Intel execs make small cut to their overall compensation after a disastrous quarter
Publishing timestamp: 2023-02-01 16:09:27
Summary
Intel executives will take pay cuts following weak fourth-quarter numbers. CEO Pat Gelsinger's base pay will be cut by 25%, with lesser cuts for executive team members down to midlevel managers. Intel will also cut 401(k) matching in half from 5% to 2.5%, suspend merit raises and quarterly bonuses, and not affect lower-level employees. Intel shares closed up little under 3% Wednesday.
Sentiment: NEUTRAL
Keywords: enterprise, intel corp, advanced micro devices inc, business news, pat gelsinger, technology,
Source: https://www.cnbc.com/2023/02/01/intel-executives-take-pay-cuts-after-disastrous-earnings.html