
(Reuters) – Intel Corp (NASDAQ:) on Tuesday confirmed that it has carried out broad worker pay cuts.
The reductions will vary from 5% of base pay for mid-level staff to as a lot as 25% for Chief Govt Pat Gelsinger, whereas the corporate’s hourly workforce’s pay is not going to be lower, an individual acquainted with the matter informed Reuters.
Intel spokesperson Addy Burr mentioned the “adjustments are designed to impression our govt inhabitants extra considerably and can assist assist the investments and total workforce.”
(This story has been refiled to vary the day of the week within the first paragraph)