Struggle Prompts Hiring Freeze
Summary
With less money coming into the company, AMD will retrench. As part of the austerity campaign, AMD will fill only "critical" job openings and shave $500 million from this year's capital expenditures budget -- a 20 per cent reduction.
"I keep waiting for one of these companies to cry, 'Uncle!' " [Doug Freedman] said. "Until that happens, it's hard to recommend these stocks."Investors seemed encouraged by AMD's cost-cutting commitment as AMD shares climbed 49 cents, or 3.8 per cent, to close Monday at $13.35 on the New York Stock Exchange. AMD's stock price has plummeted by about 60 per cent during the past year, a $9 billion drop in market value that has underscored concerns about the company's ability to withstand Intel's pricing pressure.See the full content of this document
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Struggle Prompts Hiring Freeze
By Michael Liedtke
SAN FRANCISCO -- With its sales shrivelling even more than analysts feared, Advanced Micro Devices Inc. is imposing a partial hi...See the full content of this document
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