AMD is about to wield the axe on its payroll with some of the most substantial cuts to staff that the firm has seen.
Despite some positive financial results last week there are dark clouds gathering over AMD. New CEO Rory Read just arrived at work following his jump from Chinese computer firm Lenovo and thought that there were far too many people around him.
Determined to make his mark on the outfit Read has been sharpening his axe and looking for necks to try it out on.
There have been rumours floating around that AMD is gearing up to give a load of executives the boot, with SemiAccurate posting a story to that effect yesterday. However, TechEye deep throats have told us that the extent of cuts is likely to be more far ranging than a few of yesterday’s CEO’s pets. Read has his eye on a total restructuring, which is fairly likely to ruin a lot of people’s Christmas, our source said.
There is no word on a time scale for this. TechEye approached AMD for information on the prospect of job losses, but the firm refused to comment on the matter. Apparently Press Officers don’t comment on rumour and speculation, or what we might have been told by a trusted source deep inside the company.
Staff at the outfit might have been hoping for a pat on the back after AMD reported a good quarter. AMD booked $1.69 billion in revenue for the quarter, keeping $97 million of that as profit. This is despite having supply problems with Globalfoundries. It was the first significant profit the outfit has had since it spun off Gloflo.