AMD will cut approximately 5% of its global workforce as part of a restructuring plan announced late September, the company said in a regulatory filing on Thursday. On September 26, 2015, AMD adopted a restructuring plan focused on the company's efforts to simplify its business and align resources around its priorities of building products and deepening customer relationships.

The plan provides for a workforce reduction of approximately 5% of the company's global workforce. It includes organizational actions such as outsourcing certain IT services and application development. The plan also anticipates a charge for the consolidation of certain real estate facilities. The job cuts will take place across AMD's global operations, including Austin, Texas, and company headquarters in Sunnyvale, California, AMD said.

AMD said it expects to take a charge of $42 million, with $41 million of that recorded in the just-ended third quarter. The company also anticipates that the savings from the plan will be approximately $2 million and $7 million in the third and fourth quarters of fiscal year 2015, respectively. The Company anticipates savings of approximately $58 million in fiscal year 2016.

AMD, has been shifting to gaming consoles and low-power servers, but progress has lagged due to competition from Intel and newer companies.