AMD to Take Charges

Advanced Micro Devices Inc., the biggest rival to Intel Corp. in the computer-chip market, expects to take “significant” charges in the second and third quarters for previously announced job cuts and other efforts to reduce costs, according to a filing with the Securities and Exchange Commission. The Sunnyvale, Calif.-based company said in March that it would cut about 300 employees and take charges in the first and second quarters amid widening losses. AMD is struggling to keep up as industry leader Intel cuts prices on microprocessors. Production problems have exacerbated AMD’s troubles. AMD stock closed unchanged at $19.50 on the NYSE. News of the expected new charges was released after the close of trading.