Advanced Micro Devices (AMD) has announced a 4% reduction in its global workforce, equating to approximately 1,000 employees, as part of a strategy to align resources with key growth areas. “We are committed to treating impacted employees with respect and helping them through this transition,” an AMD spokesperson stated, confirming the layoffs.
AMD’s competition with industry giant Nvidia in the AI chip sector has proven difficult. The company has encountered challenges related to inventory and performance, struggling to match Nvidia’s capabilities in essential AI training tasks. Notably, in 2024, Nvidia’s stock surged nearly 200%, while AMD’s shares have declined by 5%.
Despite a promising 29% growth in AMD’s personal computer segment, the company reported a 69% year-over-year decline in its gaming division.
Looking ahead, AMD remains optimistic about its upcoming MI350-series silicon, slated for release in late 2025. During AMD’s Q3 earnings call, CEO Lisa Su expressed confidence in the new processors, stating, “Our next-gen MI350-series silicon is looking very good and is on track to launch in the second half of 2025, with the largest generational increase in AI performance we have ever delivered.”
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