AMD To Cut 10% of Workforce

According to the Associated Press, AMD has announced it is cutting ten percent of its workforce by the end of Q1 2012. Advanced Micro Devices says it is cutting 10 percent of its workforce amid weak PC market. The chip-maker made the announcement Thursday after the market closed. Advanced Micro Devices Inc. says the cuts should help the company save $10 million in the fourth quarter and $118 million next year. The layoffs are expected to be finished by the end of the first quarter of 2012.