AMD plans layoffs after recent rev warning: source

SAN FRANCISCO Sat Oct 13, 2012 12:14am BST

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SAN FRANCISCO (Reuters) - Advanced Micro Devices Inc is planning significant layoffs, after the chipmaker warned this week its quarterly revenue would fall due to a weak global economy, a source familiar with the matter said on Friday.

The source, who asked not to be identified, told Reuters the layoffs would be close to a range of 10 percent to 20 percent.

As of February, AMD had 11,705 employees worldwide.

Technology blogs including CNET and All Things D reported earlier that AMD could cut between 20 percent and 30 percent of its workforce.

AMD declined to comment.

On Thursday, AMD warned that its third-quarter revenue likely fell about 10 percent from the previous quarter.

(Reporting By Noel Randewich; editing by Carol Bishopric)