TAIPEI (TVBS News) — Advanced Micro Devices (AMD, 超微) confirmed on Tuesday (Nov. 12) that it is conducting layoffs globally, affecting about 4% of its workforce, which equates to roughly 1,000 employees out of its 26,000 people worldwide. The chip designer aims to redirect resources toward its most significant growth opportunities, focusing on the artificial intelligence (AI) sector.
Wccftech reported that anonymous users on a platform claimed they received layoff notices from AMD, with others corroborating the news. This decision came amid similar layoffs by its competitor Intel (英特爾), which has struggled to maintain profitability, reporting losses for the past two quarters. An AMD spokesperson told Wccftech that the company is committed to treating affected employees with respect and assisting them through the transition period.
AMD's recent strategic moves include exiting the accelerator product line and planning to finance acquisitions through debt and cash reserves. Despite a 17% increase in revenue and a 34% rise in profits for Q3, AMD's stock has faced a bearish trend due to disappointing financial forecasts. On the day the layoff news broke, AMD's stock price fell by 2.52%, marking a 13.6% decline since the Q3 earnings release.