AMD plans workforce cuts?
At the annual meeting with financial analysts AMD is expected to announce mass workforce cuts. Worldwide rumors appeared the next day after the quarterly press conference of October 17, when company leaders announced the necessity of additional annual saving of $350 in 2003 to remain afloat and maintain sufficient technological level. To remind: in the last, fifth unprofitable quarter AMD lost $254 million.
English The Inquirer posted the complete note from AMD leader Hector Ruiz to company workers, stating financial problems and possible solutions. Though it´s not directly mentioned, the document provokes feeling of coming workforce cuts.
Last mass cuts were conducted by AMD in September 2001. Early that fall many companies were cutting thousands of workers. Then AMD dismissed 2300 people. About the same is expected to be dismissed this year. Though this wasn’t proved yet, according to rumors from 5% to 20% workforce is to be cut. Currently 13187 people work for AMD.
According to provisional data, workforce cut is a part of restructuring plan, called Operation Flexibility, that will be presented to analysts at the coming press conference.
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