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AMD lays off 4% of its workforce
AMD has confirmed that it's laying off 4% of its workforce to focus on 'large growth opportunities.'
“As a part of aligning our resources with our largest growth opportunities, we are taking a number of targeted steps,” an AMD spokesperson told CRN. While AMD grew both revenue and profit, the company’s gaming division saw a 69% year-over-year decline, and guidance for the current quarter missed analysts’ expectations. A lack of inventory is one reason — by one estimate, AMD will ship 224,000 GPUs this year, a high volume, but not enough to satiate large customers like Microsoft and Meta.
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