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Rumor: AMD to slash 9 percent of its workforce and cut pay

Posted on Friday, January 16 2009 @ 19:17:23 CET by


Charlie from The Inquirer claims AMD send out a memo yesterday to announce new layoffs and pay cuts. He claims AMD will give another nine percent of its workforce the boot, and that those who remain in the U.S. and Canada may expect pay cuts of 5-20 percent.
The short story is that nine per cent of AMD employees will be laid off, and those who remain in the US and Canada will see their pay reduced. Layoffs and pay cuts in other countries are a little trickier because of employment laws, but expect similar actions where possible.

Pay cuts range from about 20 per cent at the top, going down in steps the lower you get to the bottom. The lowest tier workers will have their pay reduced by about five per cent. There is really no good news from this, other than the prospect of keeping the company viable for some time to come.
FUD Zilla published a bit more info about the pay cuts:
The chipmaker also plans to cut salaries in the U.S. and Canada by as much as 20 percent for the CEO, 15 percent for VPs and around 10 percent for other top managers. We got some additional light on Charlie's story and managed to confirm it in the meantime.



 



 

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