After reporting big decline on revenue, Intel cuts pay and benefits for its employees for more details: https://tinyurl.com/25uwsp22 #tech #intel
This sucks
Better than being laid off and only finding roles at lower TC anyways
Yes, my neighbor friend just told me this. This is applicable for 2 quarters. It's 5% for ICs, 10% for managers and 15% for directors. Also bonus has been cancelled.
No annual bonus?
I kinda like that approach. If the issues are top-down the penalty should reflect that. I’m sure there’s also many people who prefer a pay cut to being laid off.
What does Intel even do
Intel inside 😎
Provides WLB so you can prepare for Microsoft
They increased it by 12% 2 years back
What does Intel do? Make chips?
Fish & Chips
They make heaters
also bonus and 401k. so more like 15% TC?
Both APB and QPB? Partial cut or altogether?