AMD preps layoffs that could hit 30 percent of its workers

AMD is based in Sunnyvale, Calif.

(Credit: AMD ) Advanced Micro Devices is prepping for layoffs that could impact a significant percentage of its staff, CNET has learned.

The company, which makes processors for PCs and servers, could let go 20 percent to 30 percent of its employees within the next few weeks, according to people familiar with the matter, though they said the amount could be lower.

AMD may announce the move -- its second big staff cut in the past year -- as soon as next week. It reports quarterly earnings Thursday.

The chipmaker, whose shares hit a multiyear low today, has been struggling of late. Rival Intel has been dominating the PC and server markets, while graphics competitor Nvidia has gained strong traction with its latest GPU. It doesn't help, either, that the overall computer market has been going through a slump.

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