The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Manufacturing Manufacture Of Computer, Electrical Electronic And Optical Products Manufacture Of Computer, Electronic And Optical Products 26 - Manufacture of computer, electronic and optical products
1,300 - 2,600 jobs Number of planned job losses
Announcement Date
14 November 2002
Employment effect (start)
1 November 2002
Foreseen end date
1 December 2003
Description
Advanced Micro Devices (AMD) is a global supplier of integrated circuits for the personal and networked computer and communications markets with manufacturing facilities in the United States, Europe, Japan, and Asia. In November 2002 AMD announced a restructuring programme that will reduce the workforce by 10 to 20 percent, equal to about 1,300 to 2,600 positions worldwide, by the end of 2003. AMD said it notified 1,000 employees that the layoffs would be across the company's operations in the US, Europe and Asia. The job cuts will come from the marketing, finance, legal, human resources, sales, strategy and business development areas. AMD had already warned it was beginning a major restructuring to reduce its costs by $350m by 2003. The chip maker is trying to get its costs in line with its lower revenue amid the technology downturn and the slump in PC sales.
Sources
14 November 2002: AMD Press release
Citation
Eurofound (2002), AMD, Internal restructuring in World, factsheet number 60162, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/60162.
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