https://www.reuters.com/technology/...-exec-pay-amid-pc-market-downturn-2023-02-01/
Ouch. I know they’re big enough that they’ll more than likely right the ship, but Intel needs to get their stuff together ASAP.
Intel Corp (INTC.O) said on Tuesday that it had made broad cuts to employee and executive pay, a week after the company issued a lower-than-expected sales forecast driven by a loss of market share to rivals and a PC market downturn.
The reductions will range from 5% of base pay for mid-level employees to as much as 25% for Chief Executive Pat Gelsinger, while the company's hourly workforce's pay will not be cut, said a person familiar with the matter who was not authorized to speak publicly.
Ouch. I know they’re big enough that they’ll more than likely right the ship, but Intel needs to get their stuff together ASAP.