quoting a private equity executive who said the very thought of AMD put him in a “cold sweat.”
Meanwhile, another concern is the state of employee morale. While it wouldn’t be the first time that AMD has seen a phase of corporate difficulty — competing with Intel tends to guarantee that — people both inside and outside the company are starting to remark that even for AMD, morale is reaching new lows.
One significant problem is the number of executives who have departed, either for other jobs or who have been fired in either of the two rounds of recent layoffs. Without experienced executives who have seen tough times at AMD before, younger employees are finding it difficult to feel confident that the company can bounce back. As one source put it: “All the old AMD street-fighters are gone, and a lot of them feel that Rory has made a big mistake in getting rid of them. Without them, people feel like they’re in a losing battle.”
Update: So an AMD spokesman just got back to me, saying that another round of restructuring, including cuts, has been on the table since AMD first announced its plan last month.