Heard this from my Penang friends. AGILENT is cutting the base pay of its employees by 10% and also announced a no increment policy for 2009. Furthermore a lot of them are forced to take leave for certain duration of time
SPANSION a former subsidiary of AMD is also affected. Factory shutdown is happening for a duration of a few weeks during the Christmas holidays and also during the CNY season in order to cut down costs. Btw, Spansion's stock price is falling like no tommorow.
Rumors mills are also circulating that there will be no pay rise for INTEL employees for 2009 in correlation to the bad mood of the semicon industry. The company is also aggresively cutting down discreationary spending on all fronts.
Future uni graduate are going to find out that it will be very very hard to find a decent job in this current challenging environment especially in the semiconductor/electrical consumer industry.
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