Acer chief executive, Stan Shih, has slashed his own salary by 30 per cent in an attempt to restore the company?s ailing semiconductor division.
Shih expects other executives and staff at Acer Semicon to follow suit and take pay cuts of between five and 30 per cent.
The unit has been in trouble since its acquisition of the Texas Instruments part of their joint venture. Dram prices and oversupply in that market have put further squeezes on Acer.
Earlier this month, Shih said he was restructuring the entire Acer group so that he could concentrate on turning round the semiconductor division.
Acer is not the only Taiwanese company to be in difficulties because of the general Asian malaise. The Taiwanese Council for Economic Planning and Development recently said that the island was in danger of entering recession.
Exports in the first seven months of 1998 showed negative growth of eight per cent. Exports from the IT sector in Taiwan represents the biggest chunk in money terms.
Earlier this week, Acer warned that it would make a bigger net loss for 1998 than it had expected. It will go into the red to the tune of NT$ 4.9 billion, while sales will drop by NT$7 billion from its previous estimate.
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