AMD plans layoffs

[nikimcbee]

http://news.yahoo.com/amd-plans-layo...2--sector.html

Like its larger rival Intel, AMD was caught flat-footed in recent years with the emergence and fast growth of mobile devices like Apple's iPad.
Tablets and smartphones, once considered a niche market by Intel and others, are fast gaining consumer acceptance and eating into the sales of laptops and desktop computers, while a slowing global economy is dampening spending in general.
On Thursday, AMD warned that its third-quarter revenue likely fell about 10 percent from the previous quarter. AMD is due to report its financial results on October 18.
AMD and Intel have been slow to adapt their PC chip designs to mobile. But while Intel has poured its massive resources into efforts to catch up to smartphone chipmakers like Qualcomm, AMD has yet to define a clear mobile strategy.

If these guys don't have a mobile (cell-phone chip) chip, that is some serious misplanning.