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What next at new look AMD?

by Scott Bicheno on 15 October 2008, 09:08

Tags: AMD (NYSE:AMD)

Quick Link: HEXUS.net/qaprh

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Even by its own turbulent standards AMD has had an action packed year. On top of the comings and goings at executive level it has had a change of CEO, sold off its DTV and mobile business, changed its strap line and, most recently, spun off its manufacturing operations into a new company - The Foundry Company (TFC).

Were it not for the high drama surrounding the financial sector, the last two developments would probably have generated a lot more publicity. So, with AMD's quarterly earnings due to be announced this week, HEXUS.channel fired some questions at AMD's corporate PR team to see if we could shed a bit of light on the new, and hopefully improved, AMD.

HEXUS.channel: It was announced that around 3,000 people would be transferred from AMD to TFC. This has led to speculation that there may be further layoffs from AMD. Can you clarify this matter?

AMD: "First and foremost, this deal is about creating a new company and creating new jobs. Currently AMD has a global workforce of approximately 15,500 and upon closing of the transactions, expected in early 2009, AMD intends to retain approximately 12,500 employees. However, AMD will aggressively manage its costs to deliver strong financial results and intend to maintain a lean organization that is highly efficient and focused on performance."

In other words, no lay-offs planned.