Apparently, not even microprocessor manufacturers are being spared from the global economic meltdown. AMD is committed to trim their workforce by 1,100 in Q1 2009 – I’m pretty sure that this would increase the unemployment ratio indefinitely.
On the other hand, the bad news just doesn’t stop here – overpaid executives and professionals aren’t spared as well. AMD will in fact cut their salary by 20% and I don’t think that anyone would be enjoying a year end bonus for 2009.
Also, for those who were suspended in AMD’s move to slash their workforce earlier – this also apply to the 401 (k) benefits whereby this would also be suspended.
I’m pretty sure that AMD’s office will have less buzz after they have trimmed their workforce. On the other hand, I believe that this is also a great opportunity for the company to kick none-performing staff out of their company with the excuse of poor sales and recession.