AMD cutting almost 1,000 jobs to focus resources on AI push
By Ian King | Bloomberg
Advanced Micro Devices Inc. is shedding about a thousand jobs as part of an effort to refocus on newer markets like artificial intelligence chips.
“As a part of aligning our resources with our largest growth opportunities, we are taking a number of targeted steps that will unfortunately result in reducing our global workforce by approximately 4%,” the company said in a statement Wednesday.
RELATED: Cisco opens San Jose office where thousands will work at Santana Row
AMD has been pouring resources into artificial intelligence processors — a market dominated by Nvidia Corp. — and is pushing deeper in data centers and corporate personal computers. The company has traditionally focused more on processors for consumer PCs, where it competes with Intel Corp.
The job cuts are concentrated on sales and marketing positions for areas such as consumer PC and gaming PCs, according to a person familiar with the process who asked not to be identified because the matter is private. The company, which has its main offices in Santa Clara and Austin, is still hiring overall. The layoffs were reported earlier by CRN.
The move follows other cutbacks among longtime Silicon Valley companies. Cisco Systems Inc. is eliminating more than 6,000 positions, and Intel is cutting about 15% of its workforce of more than 100,000.
More stories like this are available on bloomberg.com
©2024 Bloomberg L.P.
Related
Duluth Federal Prison Camp workers seek allies in push to…
Employees of the Duluth Federal Prison Camp are hoping to reverse what many view as a death sentence for the facility.The Federal Bureau of Prisons announced D
The Former Jobs of ‘RHOA’s Porsha Williams Will Surprise You
Throughout her time on The Real Housewives of Atlanta, Porsha Williams' journey was like a rollercoaster. She's had some wonderful highs and tumultuous lows. S
Seasonal Jobs Shift to Fulfillment Centers as Consumers Shop Online…
Seasonal jobs are reportedly shifting from retail stores to eCommerce fulfillment centers as businesses respond to consumers’ changing holiday shoppi
A comprehensive list of 2024 tech layoffs | TechCrunch
The tech layoff wave is still going strong in 2024. Following significant workforce reductions in 2022 and 2023, this year has more than 130,000 job cuts acros
