The reductions will range from 5 per cent of base pay for mid-level employees to as much as 25 per cent for Chief Executive Pat Gelsinger, while the company's hourly workforce's pay will not be cut, a person familiar with the matter told Reuters.
Intel spokesperson Addy Burr said the"changes are designed to impact our executive population more significantly and will help support the investments and overall workforce."
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Western Digital gets $900 million investment from Apollo, ElliottNEW YORK : Memory chip maker Western Digital Corp said on Tuesday it will receive $900 million through a convertible preferred stock deal from private equity firm Apollo Global Management Inc and hedge fund Elliott Management Corp.Western Digital said the preferred stock it sold to Apollo and Elliott has
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Taiwan's Foxconn taps former Nissan and Nidec heavyweight Seki for EV businessTaiwan's Foxconn said on Monday it had hired former Nissan Motor Co and Nidec Corp Jun Seki as its chief strategy officer for electric vehicles, bringing in a high-profile auto executive to bolster its industry ambitions.Seki, once seen as a contender for the top job at Nissan, later went to motor maker N
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