AMD to reverse pay cuts

[Viditor]

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"In December, AMD will reverse these pay cuts, which means they were in fact, temporary. There is no indication that AMD will rehire employees.

"Neither the economy nor our business has made a full recovery," Meyer told employees in an email, according to the American-Statesman. "We ask you to continue your tight rein on controllable spending, such as travel, catering and outside services."

Meyer added that AMD was "optimistic" about being profitable as it exits the year"

 

[TurtleCrusher]

This can only be interpreted as a good sign, unless someone has an absoluteness distaste for AMD.

Those people may claim AMD is only doing this as a front to give all of its money to employees rather than debtors before they go bankrupt. If they believe that I have some 9/11 footage they need to look at.

 

[dmens]

That is great news. Congrats to all fellow engineers.

 

[VirtualLarry]

They have to improve morale somehow, I guess.

 

[Keysplayr]

Originally posted by: VirtualLarry
They have to improve morale somehow, I guess.

Might be just to boost stockholder, or potential stockholder's confidence.
But, I have noticed a slowdown in real estate prices falling. In some areas, the market analysis actually shows some small increases. Real estate is pretty much indicitive of the entire economy. No other industry exchanges more money overall. Measures in the trillions per year. Not mere billions. So, we may have hit rock bottom, and the only place left to go is up. Here's hoping.

 

[Keysplayr]

Originally posted by: Scholzpdx
This can only be interpreted as a good sign, unless someone has an absoluteness distaste for AMD.

Those people may claim AMD is only doing this as a front to give all of its money to employees rather than debtors before they go bankrupt. If they believe that I have some 9/11 footage they need to look at.

Profound man... profound. Way to head them off at the pass.. :thumbsup:

 

[heyheybooboo]

An investment talking head was pumping AMD yesterday on the Nightly Business Report:

KANGAS: Do you have some new recommendations?

MORROW: Right, I do. The first recommendation is the technology sector.

KANGAS: XLM (sic) which you've liked for a long time.

MORROW: Right. It consists of 85 stocks so you get a very broad exposure to technology.

KANGAS: OK.

MORROW: The second one is BMC Software. It is a major international software vendor. I like it.

KANGAS: BMC, the symbol, as you might imagine.

MORROW: The next one will be Advanced Micro Devices, AMD. They're a global semiconductor manufacturer and I think they're very important in the semiconductor area.

He was bullish on the entire tech sector with positive things to say about Intel and others --- thought we we in for a good 2 year run with a few minor dips.

But he got spanked over some of his calls from last Fall :laugh:

 

[Viditor]

Originally posted by: heyheybooboo
An investment talking head was pumping AMD yesterday on the Nightly Business Report:

KANGAS: Do you have some new recommendations?

MORROW: Right, I do. The first recommendation is the technology sector.

KANGAS: XLM (sic) which you've liked for a long time.

MORROW: Right. It consists of 85 stocks so you get a very broad exposure to technology.

KANGAS: OK.

MORROW: The second one is BMC Software. It is a major international software vendor. I like it.

KANGAS: BMC, the symbol, as you might imagine.

MORROW: The next one will be Advanced Micro Devices, AMD. They're a global semiconductor manufacturer and I think they're very important in the semiconductor area.

He was bullish on the entire tech sector with positive things to say about Intel and others --- thought we we in for a good 2 year run with a few minor dips.

But he got spanked over some of his calls from last Fall :laugh:

To be fair though, AMD stock is trading up 60% over the last month...that ain't too bad.

 

[Engineer]

Originally posted by: Keysplayr

Originally posted by: VirtualLarry
They have to improve morale somehow, I guess.

Might be just to boost stockholder, or potential stockholder's confidence.
But, I have noticed a slowdown in real estate prices falling. In some areas, the market analysis actually shows some small increases. Real estate is pretty much indicitive of the entire economy. No other industry exchanges more money overall. Measures in the trillions per year. Not mere billions. So, we may have hit rock bottom, and the only place left to go is up. Here's hoping.

And to add to that, GM reversed pay cuts as of Sept. 1st too!

<---- I'm hoping to get my 5% back (work in automotive) but doubt my job will last long enough to see it!

Back to the OP, glad to see people starting to get some of their hard earned money back.

 

[TuxDave]

Pay cuts? Ouch... but then I guess anything is better than getting fired

 

[Xcobra]

Originally posted by: TuxDave
Pay cuts? Ouch... but then I guess anything is better than getting fired

reverse the cuts...

 

[nyker96]

i truly hope amd will get a new core design out soon they are not looking too good right now, but I think the ati division is doing a lot better maybe that's what's making money for them right now.

 

[HannibalX]

Awesome news! Not just for AMD big wigs or AMD fans, but for the employees.

 

[Phynaz]

Some good news from AMD, glad to see it!

 

[TuxDave]

Originally posted by: Xcobra

Originally posted by: TuxDave
Pay cuts? Ouch... but then I guess anything is better than getting fired

reverse the cuts...

I can read. But they had to have gotten pay cuts in the first place to reverse they pay cuts which is what I was focusing on. Meanwhile here we just dealt with "no raises" which is still a good alternative over getting fired.

 

[Idontcare]

Originally posted by: TuxDave

Originally posted by: Xcobra

Originally posted by: TuxDave
Pay cuts? Ouch... but then I guess anything is better than getting fired

reverse the cuts...

I can read. But they had to have gotten pay cuts in the first place to reverse they pay cuts which is what I was focusing on. Meanwhile here we just dealt with "no raises" which is still a good alternative over getting fired.

Yeah I can't imagine what worker productivity was like when not only are you taking a paycut but the chances of still loosing your job months down the road loom over your head nevertheless.

I don't know if it was ever true but I remember the "lore" in the eighties was never to buy a US-made automobile that was built on a Monday or a Friday and certainly never the week before or the week after any of the major holidays like Christmas and New Years.

I wonder if there is an analogy to be made to the aggressiveness of forthcoming IC products that are going to come to the marketplace after having been designed in the environment that engineers have been under these past 12+ months.

(I'm using aggressiveness here in lieu of quality as I doubt morale-impacted quality issues actually make it thru to design verification phase and into actual shipping silicon, design issues yes, but not specifically because of sagging morale)

Management at both companies may have scaled back the aggressiveness of what they were attempting to accomplish with their IC designs knowing that productivity was going to take a hit for a year, or else risk timeline slippage as milestones dates come and go while despondent worker bees spend more time than usual polishing resumes and browsing Monster.com.

 

[hans007]

Originally posted by: heyheybooboo
An investment talking head was pumping AMD yesterday on the Nightly Business Report:

KANGAS: Do you have some new recommendations?

MORROW: Right, I do. The first recommendation is the technology sector.

KANGAS: XLM (sic) which you've liked for a long time.

MORROW: Right. It consists of 85 stocks so you get a very broad exposure to technology.

KANGAS: OK.

MORROW: The second one is BMC Software. It is a major international software vendor. I like it.

KANGAS: BMC, the symbol, as you might imagine.

MORROW: The next one will be Advanced Micro Devices, AMD. They're a global semiconductor manufacturer and I think they're very important in the semiconductor area.

He was bullish on the entire tech sector with positive things to say about Intel and others --- thought we we in for a good 2 year run with a few minor dips.

But he got spanked over some of his calls from last Fall :laugh:

These guys are always talking their book though. THey dont get anything if you don't buy....

The fisher investments guy was saying we should borrow more money because it was a great time to invest or something the other day. When the fed starts rolling back a few of the liquidity programs you'll see dow 7000 and $2 and change AMD again.



I'm glad the amd employees are getting their pay back, but it has nothing to do with the stock market. after spinning off global foundaries they do not have anearly as much interest debt since osme of it went there, plus they got some cash in the deal. not to mention amd is doing very well graphics card wise, and their newest 45nm chips are at least competitive (not to mention profitable for the die size, given earlier this year they were selling very expensive 7750 kumas and such that they probalby lost money on given the die size had to be 2.5x the size of an e5200 competitor int he price range)

 

[Engineer]

Originally posted by: Idontcare
Yeah I can't imagine what worker productivity was like when not only are you taking a paycut but the chances of still loosing your job months down the road loom over your head nevertheless.

I can tell you from experience (right now), it's bad. 5% pay cut last year with NO pay raise this year and still looks like my job is gone (not AMD, but you get the idea).

 

[imported_Lothar]

Originally posted by: heyheybooboo
An investment talking head was pumping AMD yesterday on the Nightly Business Report:

KANGAS: Do you have some new recommendations?

MORROW: Right, I do. The first recommendation is the technology sector.

KANGAS: XLM (sic) which you've liked for a long time.

MORROW: Right. It consists of 85 stocks so you get a very broad exposure to technology.

KANGAS: OK.

MORROW: The second one is BMC Software. It is a major international software vendor. I like it.

KANGAS: BMC, the symbol, as you might imagine.

MORROW: The next one will be Advanced Micro Devices, AMD. They're a global semiconductor manufacturer and I think they're very important in the semiconductor area.

He was bullish on the entire tech sector with positive things to say about Intel and others --- thought we we in for a good 2 year run with a few minor dips.

But he got spanked over some of his calls from last Fall :laugh:

Puff, puff, puff, pass.
I want some of what that analyst is smoking.