[STEAM] AMD is laying off over 1,000 staff, as gaming GPU revenue plummets

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AMD has confirmed that 4% of its employees around the world are about to lose their jobs, as the company seeks to focus on its "largest growth opportunities." The announcement comes just two weeks after AMD announced its third quarter 2024 financial results, which showed that revenue from its gaming division had plummeted by 69% year-on-year. It's this division that makes custom chips for the PS5 and Xbox, as well as AMD Radeon gaming GPUs for PCs.

While

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is currently celebrating the success of its new Ryzen 7

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gaming CPU, which is so popular it's sold out practically everywhere right now, the picture is less rosy for the company elsewhere. In particular, revenue from its gaming segment sat at just $2,032 million in the nine months up to September 28, 2024, compared to $4,844 million over the same ******* last year. AMD might make the

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right now, but its gaming GPU products are struggling.

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