AMD Lays Off 4% of Workforce Amid Strategic Shift

AMD has announced it will be laying off 4% of its workforce as part of a strategy to focus on its largest growth opportunities. While the company has not disclosed exactly how many employees are impacted, with a workforce of about 26,000, this reduction could affect roughly 1,000 people. The layoffs come as the company shifts resources to prioritize key growth areas, although it is unclear which divisions will be most affected.

This announcement follows a mixed Q3 earnings report, where AMD saw growth in revenue and profit but faced significant declines in its gaming division, which saw a 69% year-over-year drop. Additionally, the company missed analysts’ expectations for its guidance for the current quarter.