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Intel cuts employee pay to preserve cash, Bloomberg reports
The Fly

Intel cuts employee pay to preserve cash, Bloomberg reports

Intel is slashing employee pay to preserve cash for investment, ranging from 25% for CEO Pat Gelsinger, 15% for executive leadership, to 5% for mid-level managers, Bloomberg’s Ian King reports. "As we continue to navigate macroeconomic headwinds and work to reduce costs across the company, we’ve made several adjustments to our 2023 employee compensation and rewards programs," Intel said. "These changes are designed to impact our executive population more significantly and will help support the investments and overall workforce needed to accelerate our transformation and achieve our long-term strategy." Reference Link

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