AMD cuts perks

IT LOOKS LIKE AMD is starting to tighten the belts. As of November 1, 2007, the employee stock buy programme is being canned. This programme allowed people to put in up to 20% of their salary into AMD stock at a 15 per cent discount.

If you flip the stock immediately, you end up with a ~3 per cent bonus to your salary, if you hold on to it, well, you play the market. This was considered a 'perk', and that perk is now a thing of the past.

In addition to this perk, bonuses and charity gift matching are also on the chopping block, and there is word of forced vacations. It is not the end of the world, but neither is it a way to make people happy. Tough times demand tough reduction of perks. µ