AMD is planning to lay off 4% of its global staff, a number that would amount to around 1,000 of the company’s employees, according to several reports that were published this afternoon. News of the layoffs come two weeks after AMD posted its financial results for Q3 2024, revealing losses in several segments, including Embedded and Gaming, the latter of which was “down 69% year-over-year and 29% sequentially primarily due to a decrease in semi-custom revenue.” A U.S. Securities and Exchange Commission filing can confirm that AMD had 26,000 employees at the end of 2023.
″As a part of aligning our resources with our largest growth opportunities, we are taking a number of targeted steps that will unfortunately result in reducing our global workforce by approximately 4%,” an AMD representative said in a statement. “We are committed to treating impacted employees with respect and helping them through this transition.”