According to Reuters, AMD is cutting 500 jobs. Most of the jobs being eliminated are white-collar jobs and will take place across the company's global operations. Struggling chipmaker Advanced Micro Devices Inc said it would cut about 500 jobs, or 5 percent of its global workforce, as it looks to rein in costs amid weak demand for its chips used in personal computers and intense competition. AMD said it expects to take a charge of $42 million, with $41 million of that recorded in the just-ended third quarter. AMD said it expected savings of about $58 million in 2016 from the restructuring plan.