AMD announced a new wave of layoffs: this time 1000 people will lose their jobs

AMD reported a new wave of layoffs. This time the work will lose 4% of the total number of employees.

Here's What We Know

AMD will lay off 1000 people under the pretext that the company needs to focus its efforts on the most promising areas. Probably, it is the production of x86 processors, where AMD successfully bypasses one of its main competitors - Intel.

The timing and criteria of the layoffs have not been announced yet, but AMD promises to take care of all those who will lose their jobs. Usually such wording means assistance in employment, renewal of health insurance and a number of payments.

AMD has had a tough time of it lately, although, as the media reported, the company beat Intel in a bidding battle to supply chips for the next-generation PlayStation 6 console and may (or already has) partnered with Microsoft to produce components for the handheld console, the release of which has already been confirmed by Xbox CEO Phil Spencer.

Source: Venture Beat