Chipmaker AMD Suffers Big Losses, Announces Big Layoffs

AMD layoffs job cuts PC market Windows 8
AMD layoffs job cuts PC market Windows 8



PC chipmaker Advanced Micro Devices said on Thursday it will cut its workforce of nearly 12,000 by 15 percent, its second round of layoffs in less than a year, as it struggles with a weak global economy and a consumer shift toward tablets.

The chipmaker forecast a drop in fourth-quarter revenue that is worse than Wall Street expected, and Chief Executive Rory Read said that he does not expect the PC industry to improve for "several" quarters.