The worldwide economic storm continues to hammer the computing industry. Chip maker AMD confirmed additional layoffs and pay cuts today:
AS WE REPORTED this morning, AMD has announced to employees they will be undergoing imminent layoffs and pay cuts.
A memo, reportedly sent out by CEO Dirk Meyer himself, detailed the extent of the chip firm’s damage control, and AMD confirmed the numbers to the INQ moments ago.
AMD noted, “As a result of the continuing global economic downturn, we have determined that we need to take difficult, but prudent, actions designed to reduce our costs.”
The statement continued “Beginning in February, we are undertaking several steps to lower costs, including temporarily reducing employee base pay and suspending some benefits programs.”
At the same time, archival CPU vendor Intel announced that its Q4 profits crashed by 90%. According to The Register, worsening market conditions have forced Intel to postpone Lynnfield’s launch yet again.
Asian motherboard makers say Intel will postpone the launch of its next mainstream quad-core processor line, code-named Lynnfield, according to DigiTimes.
In addition, the usually reliable Taipei news service reports that Chipzila will also postpone Lynnfield’s companion chipset, the P55.
According to DigiTimes’ sources, the chips – up until today set to launch in July – won’t appear until August or September or until “an even later time depending on the market situation.”