Amkor Tech. (AMKR) to Reduce Salaries by 10% for Senior Executives, by 50% for CEO

December 17, 2008 5:07 PM EST
In a Form 8-K, Amkor Technology (Nasdaq: AMKR) today announced that as part of the company's overall cost reduction efforts in response to current economic conditions, its Compensation Comittee approved the recommendation by senior executives that their base salaries be reduced beginning in January 2009. The salaries of the Company’s U.S. payroll named executive officers will be reduced by 10%, except for James J. Kim, the Company’s Chairman and Chief Executive Officer, who recommended that his salary be reduced by 50%. These salary reductions are part of a 10% reduction in the base salaries for all of the Company’s U.S. payroll employees beginning in January 2009.

Amkor Technology, Inc. operates as a subcontractor of semiconductor packaging and test services in the United States and internationally.

You May Also Be Interested In

Related Categories

Corporate News, Management Changes

Add Your Comment