Advanced Micro Devices could lay off 20 percent to 30 percent of its staff, The Business Journals reports.
The Sunnyvale, California-based chipmaker lowered its outlook for the third quarter, saying it expected revenue to drop by 10 percent. The drop was attributed to a slowdown in the PC market, according to a CNET report.
The layoffs could occur within the next few weeks, CNET said, attributing the news to “people familiar with the matter.”
AMD spun out its computer chip manufacturing operation in 2009 to create GlobalFoundries, which has a plant in Malta, New York. AMD is among GlobalFoundries 160 customers.