Wall Street Journal:
Strapped U.S. companies, while continuing to slash their work forces, are deploying a once-rare tool to trim labor costs -- pay cuts.
On Friday, microchip maker Advanced Micro Devices Inc. in Sunnyvale, Calif., said it would temporarily cut pay between 5% and 20% for workers and executives. The chip maker also said it would eliminate 1,100 positions.
That news was part of yet another round of large job cuts by big-name businesses.