AMD will lay off 4% of its workforce, or about 1,000 employees. It needs more funding to invest in the AI industry.
Company AMD announced that it will cut 4% of its workforce to focus on its fastest-growing industries, affecting approximately thousands of people worldwide. “We are trying to focus our resources on the areas with the greatest growth potential, which unfortunately requires savings and targeted headcount reductions,” AMD said in a statement. The company is committed to treating affected employees with respect and providing them with financial support while they search for a new job.
AMD has doubled its workforce in the past three years, employing 25,768 full-time workers and another 9,526 part-timers by the end of 2023. However, the company has now decided to reduce the number of employees in order to invest more effectively in the growth of AI. It is not yet clear which specific departments will be most affected by the layoffs.
AMD is not the first to make this decision – its rival Intel is currently laying off around 16,000 employees in order to cut costs, albeit in response to falling profits. AMD has been doing well in the long term lately, but it needs more funds for investment to ensure the company’s long-term growth.
Source: pctuning.cz
