AMD announces layoff
AMD will eliminate approximately 300 positions over the next two quarters, part of a restructuring program aimed at improving the company's profitability.
The restructuring will also narrow the company's focus to producing microprocessors and other circuits that "enhance the value of personal computers as communications and information-processing tools," accordng to AMD officials.
The layoff news followed an announcement by Atiq Raza, AMD's co-COO and chief technical officer, that the company will fall a half-million units short of its goal to ship 5.5 million AMD-K6 processors in the current quarter. The shortfall will result in a significant loss for the quarter.
Speaking at the Morgan Stanley Dean Witter "Semiconductor and Systems Conference" in Laguna Niguel, Raza said the company has started production wafers on its seventh-generation processor, the AMD-K7, which is scheduled for introduction in June.
Press announcements and other information about AMD are available at http://www.amd.com .
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