AMD had doubled its headcount in recent years to tackle the surge in demand for high-performance processors used in AI data centers, however its revenue has only climbed 23%. Although recent figures suggest growth is strong, it’s likely that the company overestimated its human resource requirements, hence the adjustment.

At the end of last year, AMD had 26,000 employees, according to a U.S. Securities and Exchange Commission filing.

AMD has confirmed that it’s laying off 4% of its workforce to focus on “large growth opportunities.” It’s unclear how many workers have been impacted by the reduction — and which divisions. AMD had roughly 26,000 employees as of last year, according to the company’s annual 10-K filing. Four percent would translate to approximately 1,000.

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%,

Advanced Micro Devices Inc. is shedding about a thousand jobs as part of an effort to refocus on newer markets like artificial intelligence chips. “As a part of aligning our resources with our largest growth opportunities, we are taking a number of ...

The logo of semiconductor company Advanced Micro Devices Inc (AMD) is seen on a graphics processing unit (GPU) chip in this illustration picture taken February 17, 2023. REUTERS/Florence Lo/Illustration/File Photo (Reuters) - Advanced Micro Devices is laying off 4% of its global workforce,

AMD has confirmed it’s laying off roughly four percent of its global workforce, according to reports by TechCrunch and others. It’s not entirely clear how many people will be impacted by this move, or which divisions the laid off employees will be pulled from.

Advanced Micro Devices (AMD) is cutting 4% of its global workforce as it focuses on competition in the artificial intelligence chips space.