AMD To Lay Off 9 Percent of Workforce

Advanced Micro Devices (AMD) became the latest company to take a hit from the lagging economy as officials announced today that they plan to eliminate 900 jobs.

By the end of the first quarter of the year, AMD expects to reduce its workforce by a total of 1,100 positions. The company, which is based in Sunnyvale, Calif., employs about 2,300 people in Austin and has a worldwide employee base of 15,000 workers. Some 3,000 of that total, however, will be moving to spinoff company The Foundry Co., and won't be affected by these latest layoffs.

It's not immediately clear how many of AMD's Austin staff will lose their jobs. Last month, AMD reported that it was cutting 600 jobs — 154 in Austin — to save $70 million.