Spansion Cuts Jobs, Pays Execs

Joe sends this news, "Spansion ends executive pay cuts as it lays off workers."

The maker of flash memory chips is putting the ax to 3,000 positions. It has dialed back executive pay by 10 percent in October. In a statement, the company said:

"The remaining members of Spansion's management team are more critical than ever to leading the company through a difficult period so that we can preserve the value of the enterprise and create new jobs in the future."

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