01.16.2009 - AMD to Cut 1,100 Jobs

NEW YORK - Advanced Micro Devices Inc said on Friday it would take a $622 million charge related to its ATI acquisition, and cut 1,100 jobs and reduce salaries. AMD, which trails Intel Corp in computer chips and was criticized for overpaying for its $5.4 billion 2006 purchase of graphics chip maker ATI, also announced the impairment of another $62 million of intangible assets in a document filed with regulators on Friday. - View Press Release - Visit Advanced Micro Devices Inc. - Source PCMAG.COM