Intel To Slash Employee Salaries, Cut Top Official’s Pay By 25%: Report

Intel’s hourly workforce’s pay will not be cut, sources say.

Intel Corp on Tuesday confirmed that it has implemented broad employee pay cuts.

The reductions will range from 5% of base pay for mid-level employees to as much as 25% for Chief Executive Pat Gelsinger, while the company’s hourly workforce’s pay will not be cut, a person familiar with the matter told Reuters.

Intel spokesperson Addy Burr said the “changes are designed to impact our executive population more significantly and will help support the investments and overall workforce.”

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