No, but it shows that they are still in crisis mode and are likely going to have a big internal restructure and potential downsizing.
i wouldn't like to own AMD shares right now, or be an AMD employee, but it isn't necessary bad news. Companies sometimes need a slid kick up the backside to become competitive again. AMD's problem at the moment is that they are trying to chase many tales but have less r&D money to spend at each group. It is hard to be competitive at CPUs if you don't match Intel R&D, it is hard to be competitive with Nvidia if you don't match R&D. AMD need to concentrate their more limited resources at fewer more core technologies that they are very competitive at, that may very well mean increased GPU R&D budget and going after a big share of Nvidia compute market hile letting Intel grab more desktop CPU market share.
Hopefully AMD can reverse the trend.