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AMD cuts revenue estimates, laying off 10% of workforce

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Chipmaker AMD today announced that it was forced to lower its Q1 performance forecast from $1.6 billion to $1.5 billion and will be laying off 10% of its workforce by the end of Q3.

Their new Q1 forecast of $1.5 billion is 22% above the same time last year, but 22% behind Q4 of 2007.

AMD blames “lower than expected sales across all market segments,” but they may have a stronger second quarter if their new triple-core microprocessors and 780G chipset are hits.

[Via Ars Technica]

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