Advanced Micro Devices Corp. said it will...

Advanced Micro Devices Corp. said it will lay off up to 1,400 workers if an expected downturn in third-quarter earnings materializes. The company said the layoffs, which would affect about 8% of its 17,000-member workforce, would occur at factories in Malaysia and the Philippines. The reduction would prompt AMD to take a charge of up to $10 million against fourth-quarter results. The announcement by the nation’s fifth-largest computer chip maker is the strongest evidence yet that the semiconductor industry’s yearlong surge is faltering.