AMD Trims Workforce

September 27, 2001 –SUNNYVALE, CA — Looking to cut costs, chipmaker Advanced Micro Devices said this week it plans to cut 2,300 jobs and close two plants in Austin, Texas.

Officials say the cuts represent about 15 percent of the company?s workforce. The closing of Fabs 14 and 15 in Austin are expected to account for about 1,000 of the job cuts. The rest of the layoffs will occur in Penang, Malaysia, according to published reports.

As a result of the measures, AMD said it will save $125 million annually. The company plans take a Q3 charge of $80 million to $110 million.

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