AMD hacks another 1100 employees, cuts executive salaries by 20%

Barely two months ago we found that another round of layoffs would land 500 employees at AMD without a job. Now, we're hearing that the chip maker is looking to scale down its workforce by another nine percent, which means that around 1,100 positions will be vacated in Q1 2009. Also of note, the arguably overpaid Executive Chairman Hector Ruiz and his buddy Chief Executive Dirk Meyer will each see "temporary" (what, like a day?) 20 percent cuts in base salary. Oh, and in case you needed a little more doom and gloom with your wine and cheese, the outfit is also suspending its 401(k) company match. Awesome.

[Image courtesy of DavidWSmith, thanks Spencer]