Advanced Micro Devices said Wednesday roughly 4% of approximately 26,000 employees worldwide will be laid off. About 1,000 AMD workers will lose their jobs.

The layoffs would affect about 1,040 employees and are part of a shift in AMD’s broader business strategy.

Advanced Micro Devices (NASDAQ: AMD) Q3 2024 Earnings Call Oct 29, 2024, 5:00 p.m. ET Greetings, and welcome to the AMD third-quarter 2024 conference call. [Operator instructions]. And as a reminder, this conference is being recorded. It is now my pleasure to introduce you, Mitch Haws, vice president of investor relations.

AMD has confirmed it’s laying off roughly four percent of its global workforce, according to reports by TechCrunch and others. It’s not entirely clear how many people will be impacted by this move, or which divisions the laid off employees will be pulled from.

AMD on Wednesday said that it would reduce its global workforce by 4% in a bid to focus on its main future growth opportunities. As a result of the decision, the company will have to lay off around 1,