Chipmaker AMD to lay off 500 globally

Posted online October 2, 2015 | 11:42 am

Struggling chipmaker AMD announced it would cut 500 jobs, or about 5 percent of its global workforce.

The company expects to record $41 million of the expected $42 million charge for the move in the third quarter that ended Sept. 30.

The restructuring plan is expected to save the chipmaker $58 million in 2016.

Read more from Reuters.

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