Situation is bad!

This was the first email that I read this morning...what a start to the day...



AMD sheds 1100 jobs, cuts pay
AMD's top execs will take a 20% salary reduction and more jobs will be slashed as the MPU maker continues to cut costs in the harsh economy. By Suzanne Deffree, Managing Editor, News -- Electronic News, 1/16/2009


Moto cuts another 4000 jobs
By Matthew Miller, Editor in Chief, EDN.com -- Electronic News, 1/15/2009


Freescale cuts pay, freezes benefits by David Manners -- Wednesday 14 January 2009


ON Semi lays off 1500, closes plants, forces unpaid time off
The efforts announced follow cost-reduction measures ON Semi began taking in Q4 2008, including the reduction of 2009 planned capital expenditures to $50 million to $60 million from normalized yearly levels of $130 million to $140 million, temporary site shutdowns during the quarter, a hiring freeze, the elimination of second half 2008 bonus payments, and strict controls over all discretionary spending. By Suzanne Deffree, Managing Editor, News -- Electronic News, 1/8/2009



Seagate Cuts 6% Jobs, PayCut of 25% - 10 % Worldwide
By puzzle -- January 14, 2009


Lenovo cuts 2500 jobs on PC pinch
In addition to the job cuts, equaling approximately 11% of the OEM's worldwide employee base, Lenovo plans to reduce executive compensation by 30% to 50%, including merit pay and long-term incentives, as well as any performance payments for the coming year. By Suzanne Deffree, Managing Editor, News -- Electronic News, 1/8/2009


Asyst to Lay Off 15% of Its Workforce
Asyst Technologies Inc. said it will reduce its workforce by ~15% by the end of March, part of an effort to cut annual costs by $30M-$35M. CEO Steve Schwartz outlined other moves the company is making to reduce overhead, and said the company is focused on "on our most critical new products and customer relationships." Staff -- Semiconductor International, 1/8/2009 9:53:00 AM


Freescale cuts pay, freezes benefits by David Manners -- Wednesday 14 January 2009


Hertz to eliminate more than 4,000 positions worldwide
Posted by puzzle -- January 17, 2009


GE Capital May Cut as Many as 11,000 Jobs Worldwide
By puzzle -- January 17, 2009