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Technology Stocks : Advanced Micro Devices - Moderated (AMD) -- Ignore unavailable to you. Want to Upgrade?

To: pgerassi who wrote (259356)	4/2/2009 11:39:41 AM
From: Elmer Phud	Respond to of 275872

To: pgerassi who wrote (259356)	4/2/2009 7:11:37 PM
From: Mahmoud Mohammed	Respond to of 275872

Dear Thread, Re: " ... because the message is hard to take. TOUGH!" AMD sees restructuring costs of about $50 million "NEW YORK (AP) -- Chip maker Advanced Micro Devices Inc. said in a regulatory filing Thursday it expects to record restructuring costs of about $50 million in the first quarter. In December, AMD said it expected to take restructuring charges in the first half of 2009, but could not estimate what the charges would be. Of the $50 million, about $23 million is related to severance costs and expenses for continuing some employee benefits, the company said. Roughly $13 million is related to contract or program termination costs. AMD said further cost reduction actions will result in additional charges during the remainder of fiscal 2009 and beyond, which it said it can't estimate at this time, related to facility consolidations or closures. AMD expects to complete its restructuring plan in the 2009 fourth quarter. AMD, based in Sunnyvale, Calif., has been struggling for some time, racking up billions in losses over the last two years. Amid the global economic downturn, chip makers have seen demand for many of the devices their technology goes into, including computers and cell phones, decline steeply. The company recently laid off 600 workers, or more than 3 percent of its work force, in addition to the 1,600 workers it had already fired. Shares of Sunnyvale, Calif.-based AMD closed earlier up 14 cents at $3.16." Mahmoud