Intel to cut salaries by 25%, huge layoffs
According to recent reports, Intel intends to reduce the basic income of CEO Pat Gelsinger by 25 percent, while the wages of the other members of his executive leadership team would drop by 15 percent. Because of this decision, it is anticipated that there will be no widespread layoffs in 2023. It has been stated that Intel will be decreasing the compensation of its employees, and the company believes that this latest action will prevent layoffs from occurring. In the technology sector, widespread employee terminations have taken place over the course of the past half year. Apple is the only large company that has, up to this point, been successful in avoiding the practise of laying off staff in order to reduce expenses. The majority of the major technology businesses have taken this measure. Intel reduces the pay of its CEO and managers in an effort to conserve cash According to reports, in order to avoid taking drastic measures to downsize the staff, the corporation did slash the compensation of CEO Tim Cook by forty percent. It would appear that Intel is heading in the same path at this time, however employees at all levels will be harmed by this decision.…
