3.2 C
New York
March 1, 2024
Worship Media

Intel cuts employee, executive salaries as it faces weak PC, chip demand

After posting a double-digit revenue decline for its fourth quarter of 2022, Intel is looking to weather a potentially problematic 2023 by making companywide cuts to employee pay.

Responding to media reports about possible pay cuts, Intel said on Wednesday that in order to navigate “macro-economic headwinds and work to reduce costs across the company,” it has made several adjustments to its 2023 employee compensation and rewards programs.

“[These changes] will help support the investments and overall workforce needed to accelerate our transformation and achieve our long-term strategy,” the statement continued. “We are grateful to our employees for their commitment to Intel and patience during this time as we know these changes are not easy.”

To read this article in full, please click here

Click Here to Visit Orignal Source of Article https://www.computerworld.com/article/3686968/intel-cuts-employee-executive-salaries-as-it-faces-weak-pc-chip-demand.html#tk.rss_all

Related posts

Signal intelligence shows strong iPhone 12 demand


Telecommuting in a post-COVID U.S. will be radically different. And that’s a very good thing.


New Lenovo devices look to power hybrid working


This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

Privacy & Cookies Policy