AMD To Cut 2,000 Jobs

The number would represent 15 percent of the company's workforce.

The move comes as AMD faces pressure to regain profitability, maintain market share and start shipping its higher-end Athlon 2600 XP processor.

The company said 1,000 employees received pink slips on Nov. 14.

"Today's announcement is part of the company's ongoing strategy to reduce its break-even point and reduce expenses by $350 million in 2003," AMD said in a statement.

Shares of AMD were up 9 cents to $6.42.