with Advanced Technology Investment Co., an investment company formed by the government of Abu Dhabi. The partnership and spin-off gave AMD an infusion of cash and allowed it to focus solely on chip design. To assure the Abu Dhabi investors of the new venture's success, AMD's CEO Hector Ruiz stepped down in July 2008, while remaining executive chairman, in preparation for becoming chairman of GlobalFoundries in March 2009. President and COO Dirk Meyer became AMD's CEO. Recessionary losses necessitated AMD cutting 1,100 jobs in 2009. In August 2011, AMD announced that former Lenovo executive Rory Read would be joining the company as CEO, replacing Meyer. In November 2011, AMD announced plans to lay off more than 10% (1,400) of its employees from across all divisions worldwide. In October 2012, it announced plans to lay off an additional 15% of its workforce to reduce costs in the face of declining sales revenue. AMD acquired the low-power server manufacturer SeaMicro in early 2012, with an eye to bringing out an Arm64 server chip. On October 8, 2014, AMD announced that Rory Read had stepped down after three years as president and chief executive officer. He was succeeded by Lisa Su, a key lieutenant who had been serving as chief operating officer since June. On October 16, 2014, AMD announced a new restructuring plan along with its Q3 results. Effective July 1, 2014, AMD reorganized into two business groups: Computing and Graphics, which primarily includes desktop and notebook processors and chipsets, discrete GPUs, and professional graphics; and Enterprise, Embedded, and Semi-Custom, which primarily includes server and embedded processors, dense servers, semi-custom SoC products (including solutions for gaming consoles), engineering services, and royalties. As part of this restructuring, AMD announced that 7% of its global workforce would be laid off by the end of 2014. After the GlobalFoundries spin-off and subsequent layoffs, AMD was left with significant vacant space at 1 AMD Place, its aging Sunnyvale headquarters office complex. In August 2016, AMD's 47 years in Sunnyvale came to a close when it signed a lease with the Irvine Company for a new 220,000 sq. ft. headquarters building in Santa Clara. AMD's new location at Santa Clara Square faces the headquarters of archrival Intel across the Bayshore Freeway and San Tomas Aquino Creek. Around the same time, AMD also agreed to sell 1 AMD Place to the Irvine Company. In April 2019, the Irvine