AMD announced today that they are reducing headcount yet again, this time by 1,100 people. This equals about 9 percent of their current workforce. While this is the 3rd round of layoffs that the company has had in the last year, it is expected to be the last. Any future reductions should be covered by people leaving on their own, and the expected spinoff of their manufacturing business later in the year.
At least for a change it’s not just the workers who are taking a hit. The CEO and other management and salaried employees are taking major reductions in pay. Hopefully this will be enough that no one else will have to lose their jobs.