SUNNYVALE, Calif.-After announcing a third-quarter loss of $254 million, Advanced Micro Devices may announce a new round of layoffs to make it competitive in a tight economy, according to industry sources.
Management has indicated that layoffs are necessary if the company succeeds in cutting $350 million next year.
“We can no longer count on the proverbial rising tide that lifts all boats,” said Jerry Sanders, chairman of AMD.
