Just In Time For NFP Friday, AMD Announces It Is Slashing 10% Of Its Workforce

Tyler Durden's picture

When it comes to the almighty corporation, employees are naturally expendable. Sure enough AMD is all too aware of this, per AP: "Advanced Micro Devices says it is cutting 10 percent of its workforce amid weak PC market. The chip-maker made the announcement Thursday after the market closed. Advanced Micro Devices Inc. says the cuts should help the company save $10 million in the fourth quarter and $118 million next year. The layoffs are expected to be finished by the end of the first quarter of 2012." From the company's 10K: "As of December 25, 2010, we had approximately 11,100 employees." Of course, in Banana America, this means tomorrow's NFP number will be a massive beat.

Carry on.