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■Computers
Advanced Micro to cut jobs
Advanced Micro Devices, the second-largest maker of computer processors after Intel, announced on Thursday that it would cut about 2,000 jobs, or 15 percent of its work force, by the middle of next year. Half of the affected employees were notified on Thursday, the company said. It had 13,187 employees as of the end of September. Advanced Micro has a broader plan to reduce expenses by US$350 million in 2003. "While painful and unfortunate, today's action will help to position AMD so that we can take full advantage of the eventual market recovery," said Hector Ruiz, the company's chief executive. Advanced Micro's stock has lost 60 percent of its value this year as a demand for consumer electronics and communications equipment has plummeted.

■ Regulators
Chertoff says no to SEC
US Assistant Attorney General Michael Chertoff, approached by the White House to head the Securities and Exchange Commission, said he's "happy" to remain as head of the Justice Department's criminal division. President George W. Bush planned to offer the SEC job to Chertoff if he said he would take the position, people familiar with the situation said. Chertoff, 48, has played a leading role in the administration's crackdown on corporate crime, helping direct investigations into alleged fraud at Enron Corp and WorldCom Inc. "Michael Chertoff is happy in the job he currently holds," said Justice Department spokesman Bryan Sierra. "He looks forward to helping the president and the attorney general continue fighting the war against terrorism." Harvey Pitt's resignation left the SEC leaderless just as lawmakers demanded tougher oversight of the accounting profession and securities industry to restore investor confidence.

■ Employment
Bush to open up federal jobs
US President George W. Bush plans to subject as many as 850,000 federal jobs to competition from the private sector, administration officials said Thursday, a sweeping reform long sought by Republicans and stiffly opposed by labor unions. Nearly half of the government's civilian work force could be affected by the plan that was to be published in the Federal Register yesterday. After a 30-day public review period, Bush can impose the new rules without congressional approval. "This is inherent to getting the taxpayers the best deal for their dollars and the best service from the government," said Trent Duffy, spokesman for the Office of Management and Budget. Bush and his fellow Republicans have long favored opening public sector jobs to competition from outside government.

■ Trade
Cambodia preparing for WTO
Cambodia is on course to complete talks on its accession to the WTO by September next year, a WTO official said on Thursday. A WTO working party, which has been negotiating terms for Cambodian accession since 1994, met on Thursday and said a final report should be ready for late March or early April next year. "Cambodia and WTO members in the working party said they aim to complete the membership deal by the fifth WTO ministerial conference," the WTO official said. The conference is scheduled for Sept. 10-14 in Cancun, Mexico. Sok Siphana, Cambodian secretary of state for commerce, said he hoped remaining issues could be resolved at talks in March or April.

Agencies
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