After first denying the rumoured 5% workforce reduction, AMD has now contradicted their word and laid-off a rather large 10% of its staff. Lower than expected financial results for quarter one are to blame for the lay-offs, which AMD describes as an adjustment to its cost structure. In addition to the workforce reductions, which will be effective at the end of the third quarter, AMD expects its first quarter revenues to be 15% lower than originally intended. On the bright side though, AMD's revenue is still expected to be 22% higher year-over-year.

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