Chip Maker (AMD) Cuts 500 Workers

amd

Advanced Micro Devices said Thursday that it would cut close to 3 percent of its staff as it works to reduce costs and reach a break-even point of $1.5 billion in quarterly revenue.

The layoffs will affect close to 500 workers, leaving A.M.D. with about 14,960 employees. Drew Prairie, a company spokesman, said the cuts would be spread across a variety of departments and regions.

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