AMD Announces Work Force Reductions.SUNNYVALE, Calif.--(BUSINESS WIRE)--March 8, 1999--AMD announced today that it will eliminate approximately 300 positions over the next two quarters as part of a restructuring program. Costs of the work force reductions will be reflected in charges against earnings in the current quarter, which will end on March 28, 1999, and in the following quarter. The restructuring is aimed at increasing the company's focus on microprocessors and other circuits that enhance the value of personal computers as communications and information-processing tools. "The accelerating convergence of computation and communications technologies is driving greater strategic focus by all information technology companies," said W.J. Sanders III, chairman and chief executive officer of AMD (Advanced Micro Devices, Inc., Sunnyvale, CA, www.amd.com) A major manufacturer of semiconductor devices including x86-compatible CPUs, embedded processors, flash memories, programmable logic devices and networking chips. . "We believe that our greatest opportunity lies in enhancing the personal computer as a tool for communications and information processing information processing: see data processing. information processing Acquisition, recording, organization, retrieval, display, and dissemination of information. Today the term usually refers to computer-based operations. . In our most recent quarter, more than two-thirds of AMD revenues were derived from AMD-K6(R)-2 processors for Microsoft(R) Windows(R) computing. Going forward, we believe our best opportunities for profitable growth lie in offering circuits that provide improved connectivity, a superior visual computing The use of computers for 3D modeling and animation. See visualization. platform, and better access to the Internet from personal computers." About AMD AMD is a global supplier of integrated circuits Integrated circuits Miniature electronic circuits produced within and upon a single semiconductor crystal, usually silicon. Integrated circuits range in complexity from simple logic circuits and amplifiers, about 1/20 in. (1. for the personal and networked computer and communications markets. AMD produces processors, flash memories, programmable logic devices, and products for communications and networking applications. Founded in 1969 and based in Sunnyvale, California, AMD had revenues of $2.5 billion in 1998. (NYSE NYSE See: New York Stock Exchange : AMD) Cautionary Statement This press release contains "forward-looking statements" which are made pursuant to the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Forward-looking statements are generally preceded by words such as "expects," "plans," "believes," "anticipates," or "intends." Investors are cautioned that all forward-looking statements in this release involve risks and uncertainty that could cause actual results to differ materially from current expectations. Forward-looking statements in this release involve the risk that the company will not achieve profitable growth. We urge investors to review in detail the risks and uncertainties detailed in the company's Securities and Exchange Commission filings, including the most recently filed Form-10K and Form-10Q. WORLD WIDE WEB: Press announcements and other information about AMD are available on the Internet via the World Wide Web. Type http://www.amd.com at the URL URL in full Uniform Resource Locator Address of a resource on the Internet. The resource can be any type of file stored on a server, such as a Web page, a text file, a graphics file, or an application program. prompt. AMD, the AMD logo and combinations thereof are trademarks, and AMD-K6 is a registered trademark of Advanced Micro Devices, Inc. Microsoft Windows are registered trademarks of Microsoft Corporation. |
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