Rexchip Electronics, a DRAM-manufacturing subsidiary of Elpida Memory, will cut the salaries of top managers and executives by 10%, according to a company filing with the Taiwan Stock Exchange. The move is to work together in a spirit of shared responsibility and shared sacrifice to go through the current bad times, Rexchip said.
Rexchip swung to net losses in the third quarter of 2011, from profits in the prior quarter and a year ago, due to falling demand resulting in DRAM price decreases.
Also affected by unfavorable market conditions and pricing, fellow DRAM firms Nanya Technology and Inotera Memories saw their third-quarter net losses widen sequentially and on year.