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AMD to trim 1,100 jobs, initiate temporary pay cuts

Jan 16, 2009, 23:32 (0 Talkback[s])

"AMD will cut 1,100 positions in the first quarter through attrition and layoffs, as one of its measures to cut costs during these recessionary times.

"The chipmaker will also institute temporary salary cuts, with its CEO Dirk Meyer and Executive Chairman Hector Ruiz both taking a 20 percent cut. In the U.S. and Canada, executives that hold a rank of vice president or higher will receive a 15 percent pay cut and salaried workers a 10 percent cut. Hourly workers, meanwhile, will face a 5 percent wage reduction."

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