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Advanced Micro Devices has put the cost of the layoffs and other cost reductions it announced during the fourth quarter at around US$70 million, higher than it had expected.
As part of its plan to cut costs by spinning off its chip manufacturing activities to focus on chip design, AMD had previously reported that it expected to lay off 500 employees in the fourth quarter, with costs totalling $50 million.
However, during the fourth quarter, AMD eventually told around 600 workers they would laid off, increasing the expected cost of the job cuts, it said Monday. In the filing with the SEC, AMD put the costs of these lay-offs at around $70 million.
Finally, the company noted that it will mark down by $20 million the value of its investment in flash memory manufacturer Spansion. Now an independent company, Spansion started life as a joint venture between AMD and Fujitsu.
