Advanced Micro Devices (AMD) has announced to reinstate the salary plans thereby canceling the cost cutting program.

Under the cost cutting program, AMD has announced to cut pays of its employees by 5% to 20% to combat recession, few months back in January. The cut was introduced in salaries of full and part time workers. Indeed, the top management levels were no exceptions and CEO Meyer and AMD’s executive chairman Hector Ruiz faced a cut of 20% in their pay scales.

The other management executives faced a cut of around 15% at that time to face off the recession. But now, as per the recent updates, AMD will reinstate the salaries. The salaries will be reinstated as of December. The reasons of reinstating have not been revealed as of now.

The analysts cite that recent signs of recovery in economy have backed this announcement coming in.

AMD has suffered heavy losses but now it seems, the chip rival is inching back to profitability.

Satinder Kaur/ITVoir Network