This is very interesting that Intel is now cutting employee salaries. So while employee salaries are reduced by 5% or 10% CEO compensation is being reduced only by 25%. However while paying them CEO compensation has been 276x that of average employee salary.
Software Engineering Career
Yesterday
715
If your team does daily standups, your manager is a micromanager
Software Engineering Career
5h
1628
L4 Google -> 45 interviews, 5 offers, AMA
Software Engineering Career
Yesterday
1359
Principal Software Engineer TC~300K at Microsoft vs 600K at Meta. Is 300k pretty low for Principal scope?
India
Yesterday
715
A list of ethnic slurs on Indians that should be banned on Blind
India
Yesterday
1262
Ideal indian parents
The CEO will literally get back all the money from salaries cuts in the form of bonus for having successfully cut costs
This. It’s just theatrics on CEOs part.
25% of base. 0% on stock for ceo
Good for Intel. I would choose paycut over layoff. If you don't like the paycut you can search for a job while still employed.
Fuck that. What about the people who left similar paying jobs and are now forced to take less pay? Feels like a bait and switch
This will happen to other companies too going forward this year
Is this going to affected on new hires that are yet to join?
This is a good question.
Why not?
Total compensation is actually dropping about 20% since they are also cutting bonuses and 401k matches
Intel was already below the 6% corporate average. It used to be 12%.
For non-exempt employees this is much more devastating. As SS is diminished people rely on 401k for retirement.
Just to be clear Intel used to match 12%.
Is this for all locations?
25% of ceo Would be 276x of 5% of employee Math🧠
276x is 27600%! Math!
Slow clap 👏 😂