AMD’s spokesperson has confirmed with the website Wccftech that the company has indeed laid off employees after unofficial reports surfaced on various forums stating that about 4% or around 1,000 people were let go.
An overview of AMD’s business performance in the third quarter of 2024 shows a revenue growth of 18%. However, looking at individual business segments, the gaming group business saw a decline of 69% in sales, particularly in custom chips for gaming consoles.
AMD rationalized this round of layoffs as a move to realign resources for future opportunities and assured that they will support the employees affected during this transition.
Source – Wccftech
TLDR: AMD confirms layoffs, reports revenue growth but gaming segment sales decline. Layoffs aimed at seizing growth opportunities and supporting affected employees during transition.
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