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Prominent chip maker AMD will layoff 500 employees (3% of the total workforce) out of the total of 15,500. The current layoff is followed by the earlier layoff of 10% which were announced in April.

According to an AMD representative:

AMD has suffered due to stiff competition with Intel Corp. and its own miscues in the market for microprocessors, the chips that serve as calculating engines in computers. The company, which reported a $67 million loss in the third quarter, has announced cost-cutting moves that include a deal to spin off its manufacturing operations to a new joint venture.