More on AMD: The company is: 1) Planning to cut 15% of its workforce as part of its...
Oct 18 2012, 17:35 ET
More on AMD: The company is: 1) Planning to cut 15% of its workforce as part of its restructuring, which it says will be "largely completed" in Q4. AMD expects to achieve $190M in 2013 cost savings, and record $80M in Q4 restructuring charges. Past rumors indicated job cuts of anywhere from 10%-30%. 2) Guiding for Q4 revenue of $1.1B-$1.21B, below a $1.33B consensus. CPU division sales fell 11% Q/Q and 28% Y/Y in Q3, while GPU division sales fell 7% Q/Q and 15% Y/Y - both are clearly losing share. AMD nearly unchanged AH.