Intel Corp has taken the net step following the release of a disappointing earnings report last week.lower-than-expected sales forecastThe reductions will range from 5% of base pay for mid-level employees to 25% for Chief Executive Pat Gelsinger.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.
Intel spokesperson Addy Burr said in a statement that the "changes are designed to impact our executive population more significantly and will help support the investments and overall workforce."
Intel's stock is really taking a beating and among its competitors, Intel is really falling behind. They're going to have to make a major turnaround or go the way of being forgotten.
Sverige Senaste nytt, Sverige Rubriker
Similar News:Du kan också läsa nyheter som liknar den här som vi har samlat in från andra nyhetskällor.
Källa: WSJ - 🏆 98. / 63 Läs mer »
Källa: svbizjournal - 🏆 334. / 59 Läs mer »