-The company is a mess. Upper management is there just to collect the $ and have no real intention to turn around the company (for starters, google "AMD Rasgon bonuses" and click on the Yahooo article)
-Employees are treated like idiots. We are promised a never-ending list of things that are oh-just-around-the-corner and never happen: more share in emerging markets, the emergence of a semi-custom business (fancy way to describe two game console wins), gaining market share back from NVIDIA (according to Lisa Su in 2014 "there is no reason why AMD's graphics share should not be 50%", it now stands below 30%), and so on. Fool me once, shame on you; fool me twice, shame on me (and then I leave)
-Constant layoffs plus attrition = scarce engineering talent. It is very difficult for AMD to come up with good products considering the amount of good people who left, and the fact that they have been replaced by so-so engineers since top talent will land elsewhere
-Morale is low. The parking lot is almost empty by 6.30pm. You meet strangers and five minutes they are openly making fun of the company. The ex-CEO is laid off and given $5M in cash but people do not see any salary raise when they are promoted.
-As the result of all of the above, AMD's technology understandably is way behind, which results on a death spiral: less revenues -> more losses -> more layoffs -> products are delayed -> products are no attractive by the time they hit the market -> less revenues
