AMD’s Commitment to Affected Employees

An AMD spokesperson said: “As part of aligning our resources with the greatest growth opportunities, we are taking a number of targeted steps that will unfortunately result in our global workforce being reduced by approximately 4% .

The company promised to treat affected employees with respect and help them through this transition period.

The job cuts will primarily affect sales and marketing roles in the consumer PC and gaming PC sectors.

AMD Q3 Revenue and Market Challenges Report

The announcement comes on the heels of AMD’s mixed Q3 earnings report. While the company’s revenue and profit grew overall, its gaming division saw a staggering 69% year-over-year decline.

AMD’s guidance for the current quarter also missed analysts’ expectations.

The chip maker has also struggled to compete with the industry leader NVIDIA in the AI ​​chip market due to inventory issues and performance gaps in critical AI training workloads.

AMD Stock Performance and Future Outlook

In 2024, NVIDIA shares are up nearly 200%, while AMD shares are down 5%.

Despite the difficulties, AMD is optimistic about its upcoming MI350 series silicon.

The next generation product will be launched in the second half of 2025 and promises a major increase in AI performance.

AMD Managing Director Lisa Su was upbeat about the upcoming release during the company’s Q3 earnings call.