And a happy New Year?
Back in early November, semiconductor outfit AMD announced it was going to lay-off around 500 people, globally, in its on-going effort to make a profit.
Yesterday, however, in a filing with the SEC, AMD revealed that it had in fact given around 600 people the bad news. We wonder how many of that extra hundred were taken from EMEA.
According to the SEC filing, this extra cull added $20 million to the anticipated restructuring cost of $50 million. If even half of this is related to severance, that means AMD is setting aside $100k for each redundancy. Seems quite a lot.
In addition AMD confirmed that it was going to have to write-down the value of its ATI acquisition yet again. Over half of the "goodwill" value of the deal has already been written-off since AMD bought ATI in 2006, which has been a major contributor to some of its quarterly losses. The filing didn't reveal the value of the write-down, but said they were working on it.
Finally, the filing revealed that AMD is recording an impairment charge of $20 million against its investment in Spansion, due to the decline in its share price. AMD's shares were down 3.67 percent yesterday at $2.10.
