AMD swings the ax after sales shortfall

AMD (AMD) will slash jobs by 10% amid a sales shortfall for the first quarter, which ended a week ago. The chipmaker says it saw a drop in demand across all its business segments during the quarter.

The company expects to book $1.5 billion in revenue for the first quarter, about $120 million below Wall Street estimates and down 15% from the prior quarter. The company says it will cut about 1,600 workers from its ranks to shave expenses. The company, which will release its earnings report April 17, expects to take a restructuring charge in the second quarter.

AMD shares were halted in after hours Monday and rival Intel (INTC) fell 33 cents to $21.42

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There is no way AMD can compete with Intel. I am an Intel channel partner and use only Intel, simply because they are a more reliable company. AMD prices are going up so they can make money and Intel is going down to keep there business, seems to me like Intel knows what to do. If AMD wants to get customers they need to make better product and sell it cheaper!!

Posted By Steven, Sidonia TN : April 10, 2008 10:00 am

what, worry about job losses. rebate money is coming and paulson says we are going to add 500,000 jobs. can;t wait to get my 1800 and buy more stock at these levels. by low sell high.

Posted By jojoant port st lucie fl : April 7, 2008 9:48 pm

amd will be up tommorow. wall street already has this priced in. look for upgrades tommorow. go get um amd.

Posted By jojoant port st lucie fl : April 7, 2008 8:39 pm

Being that we’re already seeing massive job loss and are going to be seeing a lot more in the coming months (from all sectors despite what so many “Analysts” are lying, err, telling us) maybe you jack-off’s at CNN could show a little more sensitivity for your FELLOW AMERICANS WHO ARE ACTUALLY LOSING SAID JOBS and avoid the “swings the ax” headlines for something a little more humane.

Posted By Jeremy S., Los Angeles, CA : April 7, 2008 5:07 pm

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