AMD dismisses 2000 workers
Today we could see the beginning of new AMD economic strategy, announced on October 7. The essence is to restore profitability and reduce process costs in 2003 by $350 million. Today’s 15% workforce cut is the part of the plan.
The workforce will be cut continuosly until Q2 2003, however already 1000 workers received dismissal papers today. So, the restructuring costs will make "several hundred million dollars" already in Q4.
Source: EB News
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