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	<title>Stock Blog Hub &#187; United Microelectronics Corpor</title>
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		<title>(AMD) Advanced Micro Devices Cancels Prior Pay Cuts</title>
		<link>http://www.stockbloghub.com/2009/09/18/amd-advanced-micro-devices-cancels-prior-pay-cuts/15666</link>
		<comments>http://www.stockbloghub.com/2009/09/18/amd-advanced-micro-devices-cancels-prior-pay-cuts/15666#comments</comments>
		<pubDate>Fri, 18 Sep 2009 23:22:56 +0000</pubDate>
		<dc:creator>vitalstocks</dc:creator>
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		<category><![CDATA[Advanced Micro Devices Inc.]]></category>
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		<description><![CDATA[Advanced Micro Devices (AMD) recently announced that the pay cuts it had initiated in January this year would be reinstated in December. Hourly workers had suffered pay cuts of up to 5%, while executives at higher rungs took bigger cuts of up to 20%. The company expected the job cuts and rationalization of pay to help it deal with recessionary pressures that were hurting its already unprofitable business. In March, the company signed a deal with an Abu Dhabi state-sponsored financial institution that brought in some cash, enabled it to operate in a fabless model and improved its chances of achieving profitability in the near term. CEO Dirk Meyer said that the company’s new product lineup and the strengthening economy were the reasons for the increased confidence. He expressed optimism ]]></description>
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