AMD seeking to align resources with 'largest growth opportunities'
Chipmaker AMD is laying off about four per cent of its global workforce, joining the expanding list of organisations that are retrenching staff this year.
AMD confirmed the move to various news organisations this week.
"As a part of aligning our resources with our largest growth opportunities, we are taking a number of targeted steps that will unfortunately result in reducing our global workforce by approximately four per cent," a representative from the chipmaker told CNBC.
Specific details regarding the layoffs, such as who is impacted and how many will be hit, have not been reported. However, AMD's filing to the US Securities and Exchange Commission revealed that it had approximately 26,000 employees worldwide as of the end of last year.
"We are committed to treating impacted employees with respect and helping them through this transition," the representative said, as quoted by CNBC.
The layoffs at AMD come despite "strong third-quarter financial results."
In the third quarter, it had a revenue of $6.8 billion, a gross margin of 50%, operating income of $724 million, and a net income of $771 million.
"We delivered strong third-quarter financial results with record revenue led by higher sales of EPYC and Instinct data centre products and robust demand for our Ryzen PC processors," said AMD Chair and CEO Lisa Su in a statement.
"Looking forward, we see significant growth opportunities across our data centre, client, and embedded businesses driven by the insatiable demand for more compute."
AMD now joins the list of organisations that announced layoffs this year, including Nissan, Sony, and Omron, among others.
