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AMD Cuts 2,000 Workers

11/14/2002 11:39:00 AM Eastern

Sunnyvale, Calif. - AMD reported today that it will lay off about 15 percent of its workforce.

This move will affect about 2,000 employees, half of which were notified today that the company was releasing them. The force reduction will be completed by the end of the second quarter next year and is expected to save AMD about $350 million.