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Nov

7

AMD cut 500 jobs

Filed Under News Technology 

The company Advanced Micro Devices announced the reduction of 500 jobs from the current 15,500 deployed around the world. From the comments about what positions by this action, the representative of AMD abstained. The event is seen as part of the program, aimed to improve the financial status of companies by reducing costs.

The first major step in implementing asset light was the decision to separate the production unit with the formation of a joint venture with investors from Adu Dhabi. The deal will bring the company to $ 5.7 billion, and to the extent of implementation of the AMD team in the newly formed joint venture, known so far under the working title The Foundry, next year will move 3000 staff. It is also known that the company of Adu Dhabi, Advanced Technology Investment Company (ATIC), intends to invest from 3.6 to 6 billion dollars in The Foundry for its expansion over the next five years. Trehtysyachny staff of The Foundry will be used at two factories in Dresden, which will produce processors for AMD, as well as chips for other companies.

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