Source: Financial Times Online (http://www.ftp.com)Date Published: 4/7/08Word Count: 427AMD Warns as it seeks to cut workforceAMD, Advanced Micro Devices, issued a sales warning and said it plans to cut their workforce by 10 percent. After 5 consecutive quarterly loss postings, AMD posted another big loss in the 1stquarter of 2008. They expected to post a loss, but the loss was much larger than they had expected.Advanced Micro Devices currently employs approximately 16,500 employees, so that means that approximately 1,650 jobs will be cut by the end of the 3rdquarter of 2008. The job cuts are another precaution being taken by AMD to continue operating at a loss. They are still optimistic about increasing sales and taking a turn towards profitable figures in the 2ndhalf of 2008. AMD has been able to sustain as a profitable company by offering a comparable and/or better product than their rivals at a lower price. Now that Intel has been able to lower their prices to compete with AMD, this is no longer an attractive incentive to consumers.
This is the end of the preview.
access the rest of the document.