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."