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Pokračování dopisu šéfa AMD s důvody jednoltivých kroků:
1. BACKGROUND
Q1. Why are we making these changes?
The global economic climate and our current business conditions require AMD to readjust our breakeven point and topline targets. In order to regain financial health, we must make some difficult decisions at this point which include budget and headcount reductions. These decisions have been made with much care to preserve cash and protect our core assets as a company, so that we are poised to weather this financial storm and prepare for the future economic turnaround.
Q2. When will these changes be effective?
The effective dates will vary depending on the program. See further below for specific information about each program.
Q3. How does this compare to what other companies are doing?
Several of our competitors and partners in the technology industry, as well as global companies in general, are in the unfortunate situation of having to institute salary reductions or freezes, implement time without pay, and reduce or eliminate merit programs and other benefits.
Q4. How did you decide on the specific changes?
The management team spent and is spending considerable time reviewing AMD's options for meeting our new targets. In order to position us well for the future, changes were made based on preserving cash, and ensuring that we have the proper resources to execute against our roadmap and honor our customer commitments. While these decisions are difficult, they are being made with an eye toward the future, and retaining as many people, benefits and commitments as possible during these difficult economic times.
Q5. Are these changes global? Why/why not?
AMD is a global company, and our current economic situation is a global challenge. It is our intention to ensure a globally consistent program, with all of our employees working towards our new target levels. While we must ensure that we work within local and legal limitations, we are asking all AMDers to share in the restructuring and rebuilding of AMD's financial health. More details will come from regional leaders, but we need to act as a whole to gain the full impact of our changes.
Q6. What other measures are we taking from a business perspective to address our financial position?
We are scrutinizing all project and program costs. Hiring has been frozen with the exception of critical hires. Travel has been reduced and is approved only for customer visits. Video conferences are strongly encouraged. Contracts are being renegotiated where possible. Catering, as well as other forms of facilities and general purchasing, have been significantly reduced. AMD will continue to identify opportunities to increase our level of efficiency and eliminate non-critical work.
Q7. Why didn't our business leaders foresee the need for these changes in December when we rolled out other compensation and benefits changes?
Unfortunately, the current economic environment is unpredictable as a whole and has dramatically declined further since those decisions were made. As a result, further adjustments had to be made in order for us to regain financial health in these difficult times.
2. REDUCTIONS IN FORCE
Q8. How many employees will be affected by these reductions and at what level?
Our current plan is to reduce our headcount by approximately nine percent of AMD ‘product company' headcount in the first quarter through attrition, previously communicated divestitures and a reduction in force. These reductions will be primarily focused on manufacturing and sales, marketing, and general and administrative functions, while limiting our R&D reductions wherever possible. The reductions span a variety of levels in the management and individual contributor populations.
Q9. Why does AMD need to reduce headcount?
The global economic situation as well as our own business conditions have required us to lower our financial targets. In order to return AMD to financial health and consistent profitability during this challenging time, we must reduce our headcount in line with our target expectations.
Q10. Will there be additional cost reduction actions?
Given our current economic realities, it is imperative that we continue to assess AMD's programs, activities and staffing requirements, in order to ensure that we adjust as needed based on our global market. Returning AMD to financial health will require us all to scrutinize our spending consistently and across multiple areas.
Q11. How will affected employees be chosen?
Reductions will be determined through a review of employee performance, skill requirements and functional needs.
Q12. What types of severance packages are being offered? How do they compare to others?
AMD is offering eligible employees severance packages in line with industry and regional practices, and making every reasonable effort to reduce the hardships on impacted employees.
Q13. What kinds of outplacement services are being offered?
AMD has contracted with outplacement agencies to assist affected workers in most locations. The services provided are competitive in respective local markets and include career coaching and job search assistance.
3. SALARY REDUCTIONS
Q14. Why are we reducing base salaries?
AMD is reducing base salaries in line with our new financial targets. While this is a difficult decision, reducing salaries will allow us to limit headcount reductions as best as we can in order to preserve investments that will drive our future success.
Q15. Why do the salary reductions seem to be targeted at North American employees?
While North American reductions in salary are mandatory, our leadership team is asking all AMDers on a global basis to take comparable pay cuts. Details will be determined with local management teams. All AMDers have an important role in driving AMD towards consistent profitability and full financial health.
Q16. Do these salary reductions affect The Foundry Company employees?
As employees of AMD, The Foundry Company will participate in these reductions between now and the close of the Asset Smart transaction. The Foundry Company will evaluate these actions at close and adopt a strategy to launch and build the company responsibly while balancing the harsh economic realities of 2009 and the need to reduce expenses.
Q17. When will the base salary reduction be effective?
Base salary reductions will be effective as follows:
U.S.:
- January 26 (overtime eigible)
- February 2 (non-overtime eigible)
Canada:
- February 2 (overtime and non-overtime eigible)
New salaries will appear in the February 12 paycheck for U.S. and in the February 13 paycheck for Canada.
Q18. How much will base salaries be reduced in North America?
Base salaries will be reduced as follows:
- CEO : 20 percent
- VP: 15 percent
- Non-overtime eligible population: 10 percent
- Overtime eligible population: 5 percent (excludes co-ops/PEY/interns)
Sales employees are included in this reduction in salary.
Q19. Will expatriates whose home location is in North America be affected by this salary reduction?
Yes, expatriates from North America will be affected.
Q20. Do the base salary reductions affect co-ops and interns?
No, the salary reductions do not affect co-ops or iterns.
Q21. How do North American employees hired in 2009 volunteer for the base salary reduction?
HR will be contacting newly hired employees regarding the voluntary based salary reduction process.
Q22. How long will the base salary reduction be in effect?
These actions are temporary, and AMD will revisit them every quarter and will begin reversing them when business conditions and financial performance return to acceptable levels. We do expect our cost structure to be better matched to business conditions in the second half of this year.
Q23. How do I change my 401(k) contribution and withholding election?
(U.S. only) You can make changes to 401(k) contribution rates online at MyHR > My Personal Data > Benefits Overview > 401(k).
(U.S. and Canada) For withholding elections, please use MyHR to update MyHR > My Personal Data > My Information.
You will have until January 23 to have these changes affect the February 12 (U.S.) and February13 (Canada) paychecks.
Q24. Will the reduction of my base salary have any impact on my other benefits?
Employee benefits that are based on salary will reflect the reductions. Basic and supplemental life insurance, which are calculated on multiples of annual salary, will reflect the adjusted salary levels. Disability benefit payroll deductions will also be calculated on the adjusted salary; any claims for disabilities that begin after February 1 will be based on the adjusted salary.
Q25. Do these salary reductions have any impact on the severance amounts referenced in termination agreements that have already been issued and signed by Handheld employees who will be leaving as a result of the reduction in force on a date after the February 1, 2009 salary reduction effective date?
No, severance agreement amounts that have already been issued and signed will be honored.
Contractors
Q26. Are contractors being impacted by the salary reduction?
Contractor headcount and expense continue to be reviewed and reduced. AMD renegotiated our contract with Volt in December 2008 and reduced overall contractor markup by 10 percent.
Q27. Why aren't we terminating all contractor relationships before taking additional actions on full time employees?
We will be reducing the number of contractors significantly, but due to business functions we will need to retain a smaller population of contractors where needed.
Restricting Overtime
Q28. Will the ability to work overtime be eliminated?
No, overtime will not be eliminated but we will implement tighter controls on the usage and approvals of overtime.
4. RETIREMENT SAVINGS PLANS
401(k) Plan (U.S. only)
Q29. What changes are we making to the 401(k) plan?
AMD is suspending the company match for 401(k) plans.
Q30. Is the suspension of the company match to the 401(k) plan a permanent change?
No, we will continue to monitor the economic environment and our business performance to determine the appropriate time to reinstate the company match.
Q31. When is this effective?
We will be suspending the company match effective February 2, which will appear in the February 12 paycheck.
Q32. Can I change my 401(k) contribution?
Yes, you can make changes to your 401(k) contribution rates online at MyHR > My Personal Data > Benefits Overview > 401(k).
You will have until January 23 to have these changes affect the February 12 paycheck.
Q33. Will the enhanced 401(k) match that appeared in the first payroll run of 2009 be reversed?
No, the enhanced 401(k) match in the first payroll run of 2009 will not be affected in any way.
Group Registered Retirement Savings Plan (RRSP) (Canada only)
Q34. Why are we not implementing the RRSP company match?
Although we recently communicated that the RRSP match would be implemented in Q3 2009, we will no longer be moving forward with the company match due to the unfortunate economic environment as well as our current business state. Not implementing the RRSP company match in 2009 represents a significant cost savings.
Q35. Is not implementing the company match the to the RRSP plan a permanent change?
No, we will continue to monitor the economic environment and our business performance to determine the appropriate time to implement the RRSP company match.
5. OTHER
Expatriate Assignments
Q36. How will current expat agreements be impacted?
We will review all expat agreements to determine what actions need to be taken and when.
Q37. Are we changing the expat program in order to save costs in the future?
We may make changes to the expat program after further review.
Q38. Because of the severe travel restrictions, are expatriates allowed to take Home Leave as the policy states?
Yes, Home Leave is an important part of the expatriate assignment and will continue.
Promotion and Equity Adjustment Freeze
Q39. Why are we freezing the promotion process?
Given the economic environment we are in and our need to preserve cash, we are freezing all promotions.
Q40. When is the freeze in effect?
The freeze will take effect January 19, 2009.
Q41. When will promotions be back in effect?
We will continue to monitor the economic environment and our business performance to determine the appropriate time to reinstate the promotion process.
Q42. Is the promotion freeze for all employee levels and roles in the organization?
Yes, the promotion freeze will affect all employee levels and roles in the organization.
Q43. Will there be any exceptions to the promotion freeze?
Exceptions will have to be approved by a corporate staff member and there will be very strict guidelines that must be met for any exceptions to be approved. We will share details of those guidelines in the coming weeks.
Q44. If a job is posted and it is at a higher level than my current role can I apply?
Yes, employees can apply for any open positions no matter what the salary level.
Hiring Freeze
Q45. Will there be any exceptions to the hiring freeze?
Any exceptions to the hiring freeze will need to be approved by a corporate staff member.
Q46. If I have a business critical need regarding hiring, what is the process to gain corporate staff member approval?
We will communicate the corporate staff member approval process to management by end of day Monday, January 19.
Q47. If I am currently in mid-process of extending an employment offer or finalizing a relocation, how should I get corporate staff member approval for this activity?
Please contact your HR Business Partner to help drive any current processes until further information is available.
Relocation
Q48. Are we eliminating relocation compensation for approved new hires?
No, relocation compensation will not be eliminated but all relocation costs will need to have a corporate staff member's approval.
Stock Option Exchange Proposal
Q49. What is the status of the stock option exchange proposal?
The stock option exchange proposal has been delayed.
Q50. When will AMD seek approval of a stock option exchange?
We will include the stock option exchange proposal in the annual meeting proxy filed with the U.S. Securities and Exchange Commission in March 2009. Stockholders will vote on the proposal at the annual stockholder meeting in May 2009.
Q51. When will I receive more information?
If the program is approved by stockholders, we will include additional information shortly thereafter. This information will include timing, plan details and the exchange process. In the meantime, SEC rules prohibit us from communicating any additional information.
Eliminate 2009 Merit Program
Q52. Why are we eliminating the 2009 Merit Program?
The elimination of the 2009 merit program represents a significant cost savings. Due to the unfortunate economic environment as well as our current business state, AMD is reducing costs wherever possible. We will evaluate the economic environment and our business performance early in 2010 to determine the feasibility of a merit program.
Pozn. by DD:
Nutno říci, že šéf AMD situaci své společnosti nemaluje nijak přehnaně růžově, ani přehnaně černě. AMD dobře ví, jaké to je žít v těžké situaci, což je na jednu stranu jeho značná výhoda, zatímco mnozí ostatní se budou z těžkého šoku, že najednou zisky nejsou, ba naopak jsou ztráty, těžko vzpamatovávat. AMD je zkrátka zvyklé, což ale vzhledem k jasně zmíněným skutečnostem, pro AMD zase situaci nijak neulehčuje. Každopádně je dobře, že AMD si věří a ostatně chtě nechtě musíme souhlasit, že AMD je jedinou, sice jen zdánlivou (co Intel dovolí a nechá), ale aspoň nějakou konkurencí na jinak jasně daném trhu x86 CPU a zkrátka neumíme si představit, že by tu nebylo. Jako zákazníci jej na trhu potřebujeme a vzhledem k tomu, že není v dohledu žádná jiná společnost, která by něco proti Intelu na desktopu a v noteboocích alespoň částečně zmohla, je AMD skutečně na trhu potřeba. V kůži jeho šéfa by ale asi nikdo z nás teď být nechtěl.
Podobný dopis rozhodně není ojedinělou záležitostí a v mnoha firmách mnozí šéfové takové rozesílají. Krize dopadá na všechny a bezstarostná minulá léta růstu a bezmezného optimismu jsou najednou vzdáleným snem. V situaci jaká je tahle nemusí ani platit, že přežijí ty nejsilnější - ty nejsilnější a největší totiž také budou mít většinou největší potíže, protože většinou dluží nejvíce a udržování společnosti v chodu stojí nemalé peníze, které se však s nízkou poptávkou nedostaví. Je ale pravdou, že současná situace je i příležitostí, a pokud bude někdo ve správný čas na správném místě, může vytěžit hodně a pravdou je, že AMD díky skladbě svých produktů a orientací na nižší cenové segmenty a levnou výrobu, jak u CPU, tak GPU, na tom úplně beznadějně zase není. A kdoví, co to na nás chystá za „ Asset Smart" novinky, protože o všech nevíme ...
Zdroj: Fudzilla
| AUTOR: Jan "DD" Stach |
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| Radši dělám věci pomaleji a pořádně, než rychle a špatně. |
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