AMD Reportedly Preparing Massive Layoff 286
An anonymous reader writes "AMD is preparing to lay off 20 to 30 percent of its workforce after warning of a 10 percent decline in Q3 revenues driven by the weak global economy and PC sales, according to AllThingsD's Arik Hesseldehl. The layoffs will reportedly focus on engineering and sales, and are in addition to a 10 percent headcount reduction 11 months ago. Teams of consultants from McKinsey and Boston Consulting Group are reportedly swarming headquarters to advise the CEO Rory Read, who took over from Dirk Meyer a little over a year ago; several senior executives, including the CFO, have recently departed."
That tears it (Score:5, Funny)
Loss? What Loss?! (Score:5, Funny)
Early retirement - the perfect recipe for short term savings and long term loss of institutional knowledge!!
But, but, its all documented! So even kids right out of school can replace the laid-off engineers when demand comes back.
Sheesh! It's not like they're VP's or something equally irreplaceable!
3. Profit!