Not surprised at all with the announcement. However, over the past 5 days according to marketwatch, their stock actually went up overall.
Although this is certainly bad news for AMD, even more so for those who got cut, I don't see it to be the end of AMD. They have cut jobs in the past and AMD is still around. This should get them a little more lean and hopefully have more spare cash to go into R&D.
But I really wanted the Board at AMD to get a change up too. Apparently, they haven't done a good job with decision making either which added to AMD's fall from grace. There are rumours going around that the next gen Trinity APU's should be coming in
very early next year.Furthermore, their next-gen HD 7000s would be receiving a performance boost of up to
two times. And, AMD has also recently won a design win with Penguin to build the world's
HPC Super Computer with AMD's Fusion APUs.
Despite the dark news of layoffs, there are bright spots around for the company but they are few and hard to find. AMD will have to try really hard not to screw up their releases of their next-gen products because AMD's relations with various OEMs like Cray have been severely strained.
Cray's financial reports won't be looking good because of the delays of Interlagos, a 16-core Opteron variant based on the Bulldozer architecture.
I do hope that they do pull out of the mess they are in and rake in some money in the next financial quarters next year because they need it.