The salaries of Intel’s hourly employees will not be cut, sources say.
Intel Corp confirmed on Tuesday that it has implemented sweeping employee pay cuts.
The cuts will range from 5% of base pay for mid-level employees to 25% for Chief Executive Pat Gelsinger, while pay for the company’s hourly workforce will not be cut, a person familiar with the matter told Reuters.
“The changes are designed to more significantly impact our executive population and will help support investment and the overall workforce,” said Intel spokesman Addy Burr.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)
featured video of the day
“Most Inflation Is Imported”: CII President Ahead Of Budget 2023