AMD Fires 500

Searching for consistent profits, Sunnyvale-based chipmaker AMD says it will cut its 15,500 employee-strong workforce by 3%. The new layoff follows a now completed 10% reduction announced in April, an AMD rep told the Wall Street Journal, which pinned the cuts on stiff competition from Intel:

AMD has suffered due to stiff competition with Intel Corp. and its own miscues in the market for microprocessors, the chips that serve as calculating engines in computers. The company, which reported a $67 million loss in the third quarter, has announced cost-cutting moves that include a deal to spin off its manufacturing operations to a new joint venture.

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