During the weeks that passed AMD has announced cuts, lowered salaries and even sold off portions of the company. The background is nothing but an increased demand for profitability. It has now announced the exact numbers. AMD’s quarterly report showed a loss of $1.4 billion, which is the ninth red quarter in a row. Things could be better at AMD and considering the economy is looking to continue downhill it is hard to see any anything positive here. One thing might be that the loss was at least smaller than it was a year ago.
As you might remember AMD announced a reorganization plan back in October and that will split R&D and manufacturing into separate companies; the latter is still just known as The Foundry Company. CEO Dirk Meyer said that this division will be a cornerstone to reach black numbers again:
“Although industry visibility is poor, our priorities remain clear and achievable. We remain focused on further reducing our breakeven point through targeted restructuring actions while ensuring we execute our highly-competitive product and technology roadmaps. We made significant progress toward the creation of ‘The Foundry Company’ in the quarter, and anticipate closing the transaction in February. We expect our ongoing restructuring actions and asset smart strategy, combined with the strength of our innovative product offerings, will leave us well positioned for a global market recovery.”
The numbers can be found the the press relase.
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