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AMD cuts 1,100 jobs, staff take a paycut.
AMD has announced that it will reduce headcount by 1,100, of which 900 will be redundancies and 200 will come from “natural attrition”. It also sold its handheld chip unit to Qualcomm for $65 million.
The chip manufacturer, which bought graphics chip manufacturer in 2007 for $5.4 billion also announced a further impairment charge of $622 million, bringing total writeoffs for the deal to $3.17 billion.
Senior management are taking a pay-cut of 20%, while across the board, employees will see salaries fall 5%-15% depending on their seniority.
The job losses are added to the GameOverZone. ATi is clearly part of the games industry (ATi chips power the Xbox 360 and the Wii as well as the Radeon line of graphics cards for PCs), but it’s hard to strip out the elements that would count as “games industry jobs lost” for the Jobs Lost Tracker. I’ll leave them out unless someone can let me know how many of the losses come directly from ATi.