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November 3, 2011 09:28 pm EDT

AMD to cut workforce by 10 percent, invest savings in emerging markets and the cloud

After hitting a speed bump Q2 and making a modest bounce back in Q3, AMD doesn't seem to want to take any chances with Q4: the CPU firm just announced it's optimizing its cost structure to "enhance competitiveness and accelerate growth." In a press release, the outfit stated that it expects to save $10 million in the fourth quarter by cutting its global workforce by 10 percent and killing off a few contractual commitments. AMD says that the workforce reduction is global, and reaches all divisions of the company -- giving employees everywhere an excuse to rattle their boots. Combined with an efficiency heavy restructuring plan, the outfit predicts that the employee reduction will save more than $200 million in operational savings in 2012. AMD says it plans to reinvest a significant helping of the savings in projects targeting lower power, emerging markets and the cloud. Hit the press release after the break for official numbers and restructuring riffraff.

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AMD to cut workforce by 10 percent, invest savings in emerging markets and the cloud originally appeared on Engadget on Thu, 03 Nov 2011 17:28:00 EDT. Please see our terms for use of feeds.

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Original Link: http://www.engadget.com/2011/11/03/amd-to-cut-workforce-by-10-percent-invest-savings-into-emerging/

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Engadget is a web magazine with obsessive daily coverage of everything new in gadgets and consumer electronics. Engadget was launched in March of 2004 in partnership with the Weblogs, Inc. Network (WI

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