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AMD To Drop 1,400 Staffers

11/04/2011 11:11:15 AM Eastern

Sunnyvale, Calif. - AMD announced
it will cut 12 percent of its workforce and undergo a general restructuring.

The cuts amount to about 1,400
workers and is expected to save the processor maker about $200 million in 2012.
The layoffs will take place during the fourth quarter, the company said.

The company
intends to reinvest the savings to enable AMD to produce lower powered chips,
expand into emerging markets and delve into the cloud.