Advanced Micro Devices Inc. (AMD) has announced plans to cut 10% of its workforce by the end of the third-quarter 2008.
AMD stated that they do not know as of yet the lengths they will have to go to fully restructure the company and cut down on costs.
AMD employes around 16,420 people. A 10% cut would mean that around 1,600 people losing their jobs.
The cuts will be across the board at all levels accoding to reports.
The first-quarter sales are expected to be 15% lower than that of the fourth-quarter of 2007.
Lower-than-expected sales across all business segments is to blame for the decrease.
AMD has been planning to restructure for quite some time now, and estimated weak sales do not help it much, forcing them to cut jobs.