Despite pulling in income of $63 million during Q3, AMD will be laying off about 7 percent of their workforce. This is due to a decline in GPUs, and CPUs. This was down 6% in Q3 and 16% year-over-year. AMD President and CEO Dr. Lisa Su had this to say..
“AMD’s third quarter financial performance reflects progress in diversifying our business. Our Enterprise, Embedded and Semi-Custom segment results were strong; however, performance in our Computing and Graphics segment was mixed based on challenging market conditions that require us to take further steps to evolve and strengthen the financial performance of this business. Our top priority is to deliver leadership technologies and products as we continue to transform AMD.”
“While decisions that impact the size of our global team are never entered into lightly, this is the right step to ensure we prioritize our resources and engineering investments in our highest-priority opportunities that can drive improved profitability and long-term growth.”
AMD now expects a loss revenue of 14% for Q4 2015.