PC component manufacturer AMD plans to cut seven per cent of its global workforce.
That's according to Bloomberg, which says that the number represents some 710 positions. The news comes as the company admitted that Q3 revenue is likely to decline by about 16 per cent to $1.43bn.
The job losses are expected to be completed by the end of the company's fourth quarter.
AMD has enjoyed recent success in the console market where it now supplies chips for all three current-gen platforms. However, the PC sector is a different story.
Intel continues to enjoy success in the CPU sector with better performing high-end chips that consumers are seemingly willing to pay a premium for and a commanding lead in the low-end market.
It currently claims around 94.7 per cent of the sector
Things are tough in the graphics card sector, too, with Nvidia's latest desktop models beating AMD's in performance and price. Nvidia's efficient mobile chips are also making inroads into the laptop and tablet sector. AMD's graphics business is expected to be down 16 per cent year-on-year.