The squashy environment for computer sales has forced Advanced Micro Devices (AMD) to announce its third round of job-cuts during the course of one year. Come February and the company will trim 9.2% - or 1,100 - jobs globally, along with a transitory cut in the salaries of some employees, top executives inclusive!
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According to AMD, it will slash 900 jobs, with the remaining layoffs to come both from attrition and from the previously announced sale of a business unit. Earlier in 2008, AMD fired 1,600 employees, and last month 600 workers were shown the door.
Terming the announced moves as an attempt to "navigate the turbulent economic conditions," the company said pay cuts will range from 5 percent for "overtime eligible" employees, to 10 percent for other salaried workers, and 15 percent for vice presidents, in both the US and Canada. The base pay of Hector Ruiz, Chairman AMD board, and Dirk Meyer, chief executive, will be reduced by 20 percent each.
For AMD operations other than North America, voluntary salary reduction measures will be undertaken, which will be in tune with the local policies and regulations.
In a written statement, the latest midtier tech company putting up a tough fight amid recession, said: "As a result of the continuing global economic downturn, we have determined that we need to take difficult, but prudent, actions designed to reduce our costs."
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BY Dominic Haber
Source：TOPNEWS
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