AMD’s Dirk Meyer says things can only get better
Always look on the bright side of life
THE HEIR APPARENT to AMD’s Hector Ruiz has written a note to employees commiserating with them at the 10 per cent job cuts the firm announced yesterday.
But he has forecast a “brighter future” in the second half of this year – obviously not for everyone.
This is what Dirk Meyer wrote in an internal memo to AMD employees:
Fellow AMD employees,
In Q1 our revenue fell short of internal expectations in each of our businesses. And while we remain confident about our strategies and new product offerings this year, we must take action now to bring our cost structure in line with our performance.
Subsequently, we are moving forward with staff reductions of approximately 10 percent of AMD’s total workforce starting in mid-April and to be completed by the end of Q3. The reductions will be determined by a review of employee performance, skill requirements and functional needs.
As
Hector and I have said, headcount reductions are among the last actions we
would undertake to help AMD recover and achieve our objectives. The unfortunate
truth is that we have been unable to grow our revenues to justify our cost
structure, and the uncertain environment requires us to adjust our cost
structure to match lowered revenue expectations.
While this action is a painful one, it is necessary in order to put us back on path to success. Thank you for your patience and cooperation, as we drive towards consistent profitability and a brighter future in the second half of this year.
Dirk
Comments
Decimate the legion”
“Decimate the legion”On the block...
I'm looking forward to going into work everyday between now and September and wondering if today will be my last day. At least the project I'm currently on is supposed to extend beyond Q3, otherwise I would be really worried (please work hard on your project and finish it on time so we can lay you off...)Bad Move
Announcing a job cut spread over six month is a bad move itself.1. All employees will be thinking more about their job search than to focus on their ongoing projects. (Expect more delays in upcoming products.)
2. Bright employees, who can find jobs somewhere else, will leave the ship as a plan B. Average employees will be left behind to control rest of AMD. (Expect mediocre products designed by mediocre engineers).
Best way to cut jobs is to do it at on a bright sping morning when the employees to be fired are given pink slips at the gate and returned back to their homes forever.
Depressing
I'll bite and belive you that you are an AMDer.AMDer et al,
As AMD shareholder since 2005, how do you think I feel? Since 03/06, and all the quarters after that.
After doing my due diligence: I did a technical review of their current and upcoming products, at the same Intel was doing bad in sales and their products based on the Pentium IV core, and how good you guys were doing, I felt sure that a duopoly was brewing, I was not predicting that Intel will die just that AMD will rise to take the 30-40% of the market, which the market urgently needs, and it's been really depressing.
Hypocrites
It's hypocritical that AMD is laying off when it's executives won't cut back on their personal perks. What about the board meeting in Abu Dhabi and everyone stayed at a Palace. Wonder how much that cost.UntilQ3? What do they think?
Knowing how badly political and massively SYA AMD is internally, how can they say until Q3? This means everybody will only try to save his Job. No descissions (and work) will be done for a full quarter, in this paralyzed environment. That's insane. They didn't execute well before, but this makes it much worseEvolve or Devolve?
AMD has not lost its abilitiy to disappoint Wall Street, Customers and Employees...,The Board of Directors needs to think seriously about asking Messieurs Ruiz and Meyer to leave the meeting whilst they discuss private matters...,
I feel for you all..
10% here ...10% there...finally a 10% chop at Intel that takes me out of the picture. It happens to the best of us all. Not to fear..someone out there wants your talent and is willing to pay for it! If AMD/Intel isn't going to pay for your l33t skilz....take them to someone else who will.Those IT Recruiters must be having a record quarter with all the tech companies releasing their crop.
AMD only has itself to blame
First good luck with the job hunt if you are about to lose your job.But AMD (management) only has it's self to blame, yes products were late, yes they didn't perform as expected, but availablility in the channel has been very poor ever since Dell started selling AMD kit, add this to what i can only assume is very few design wins, goto any online etailer and check the Nvidia to ATI graphics card split (on dabs.com in the uk there are only 43 ATI HD 2/3xx boards compared to 136 Nvidia GF 8/9 boards) it's the same with motherboards for CPU's, compare AMD 790 series boards to intel X38 and it's a similar story (4 ATI 790 to 7 Intel X38). And Still no sign of B3 chips in the channel
90%
Those going to meetings all day and brown nosing will remain. The 10% doing work will be laid off...Things can only get better
Well sheesh kabob things can only get better? How can they get any worse? I suppose there is always the possibility that they will always stay rock bottom like now. With a CEO like that, and a future CEO like that, is it at all surprising?Hole in the boat
Good news, you're fired!Needless to say the ship is sinking, in fact its about to go under. As you can clearly see, things can only improve, seeing as though it's hard to be in a worse situation.
Oh, in case you are not fired...well we are taking on water. "What does that mean" you ask? well the details are a bit technical...so just remember, if 10% of the workforce is laid off, you have to work more than 10% harder for the same pay!
P.S.
Who knew that our uber CPU would be a phenomenal shot through the hull.