AMD to Cut 10 Percent of Jobs

Advanced Micro Devices, the microprocessor maker with about 2,600 employees in Austin, announced today that it will cut 10 percent of its worldwide workforce before the end of the third quarter. There was no immediate word on how AMD's Austin staff would be affected by the cuts.

AMD's first-quarter sales fell more than it had expected, and the company also said it would record a restructuring charge in the second quarter. The amount of the charge is still being finalized, the company said.

In today's press release, AMD reported that their first-quarter revenue would be about $1.5 billion, a 15 percent decrease from last quarter.

More details could emerge when AMD reports its first-quarter financial results on April 17.