AMD's new reality

According to The Inq, AMD is planning to announce more layoffs and pay cuts soon.

Charlie claims to have learned of a memo which went out Thursday, in which AMD is informing its people it will lay off an additional 9 percent of employees.

The chipmaker also plans to cut salaries in the U.S. and Canada by as much as 20 percent for the CEO, 15 percent for VPs and around 10 percent for other top managers. We got some additional light on Charlie's story and managed to confirm it in the meantime.

Unfortunately, AMD workers are no strangers to pink slips, and we hope this will be the last major cut to report anytime soon.

More here.