PC components manufacturer AMD is about to announce massive job cuts, according to a report from AllThingsD.

The site says between 20 or 30 per cent of staff at the American company will be shed, perhaps as soon as October 18, when the company announces its latest batch of quarterly financial results.

With over 11,000 works on the books at Advanced Micro Devices this could amount to over 3,330 employees receiving pink slips.

The report comes just days after AMD lowered its projections for the quarter, amid weakening demand for chips in the slowing PC hardware market.

Nervous people

Sources at the company say workers in engineers and sales, who escaped the last wholesale cut backs, are this time under threat.

One source said: "There are a lot of nervous people, and not a lot is getting done right now," and added that the cuts have been expected for quite some time now.

AMD is the only significant rival to Intel in the PC processor market and is also famous for its Radeon range of graphics cards.

Via AllThingsD