News Formal

Tech firm Intel slashes employee, exec pay amid PC market downturn

  • 📰 ChannelNewsAsia
  • ⏱ Reading Time:
  • 23 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 66%

Malaysia News News

Malaysia Malaysia Latest News,Malaysia Malaysia Headlines

American multinational technology firm Intel on Tuesday (Jan 31) confirmed that it has implemented broad employee pay cuts. 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 officer Pat Gelsinger, while the company's hourly workforce

American multinational technology firm Intel on Tuesday confirmed that it has implemented broad employee pay cuts.

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 officer 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."

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 6. in MY

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Intel slashes employee, exec pay amid PC market downturnIntel Corp on Wednesday confirmed that it has implemented broad employee pay cuts.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 th
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »