CORRECTED: AMD to cut 10 percent of staff as sales fall

Corrects to show that revenue forecast of $1.5 billion is 15 percent below previous quarter, not year-ago quarter.

SAN FRANCISCO (Reuters) - Advanced Micro Devices Inc on Monday said it will cut 10 percent of its work force after first-quarter sales fell more than it had expected.

AMD, the second largest microprocessor maker after Intel Corp , said it expects to record a restructuring charge in the second quarter. The amounts and details of the charge are still being determined, AMD said.

AMD said it expects to report first-quarter revenue of about $1.5 billion, down 15 percent from the previous quarter. It said the decrease is due to lower-than-expected sales across all business segments.

(Reporting by Philipp Gollner)

(c) Reuters 2008. All rights reserved. Republication or redistribution of Reuters content, including by caching, framing or similar means, is expressly prohibited without the prior written consent of Reuters. Reuters and the Reuters sphere logo are registered trademarks and trademarks of the Reuters group of companies around the world.

More US (Business) News click here