Breaking even
AMD has made a lot of concessions towards cutting its overheads this year in its quest to achieve profitability for the first time in over two years.
It seems that even spinning off its manufacturing operations into a new and separately owned company was not enough because AMD has revealed that it's cutting a further 500 jobs globally.
Here's the full text of a statement sent out by AMD today:
AMD is making progress in our return to consistent profitability. The divestiture of our DTV business, the announcement of Asset Smart and adjustments to our leadership team are tangible examples of the changes we are making to improve our business in a challenging environment, and on an ongoing basis.
As part of our efforts and focus on reducing our cost structure to achieve a $1.5 billion breakeven, we are examining all of our activities to make certain that each supports our objectives, and stop those activities that don't.
Today's announced headcount reduction of approximately 500 positions across various regions and organizations is an unfortunate but necessary part of this process to help us align our people with the focused programs that achieve our objectives, eliminate duplication of efforts and allow us to operate more efficiently.
Our Asset Smart plans, upcoming product offerings, a re-energized leadership team and the strength and potential of our existing customer relationships offer some tremendous opportunities for success, and we are very focused on moving forward.
