Intel had a record breaking profit for years but refuses to increase the compensation of the workers. Today he announced that each and every one will receive higher quarterly bonuses but will get a lower annual bonus.... despite record breaking profit.The high performers get "4%" raises while mediocre performers receive 3%. Are companies out there really this douchy? Or is it just intel? Record breaking revenue. Expect lower APB multiplier. (Intel) https://us.teamblind.com/s/UZT8Xx5T
Salesforce pulled this trick last year. Record year but company multiplier for bonuses set to 1.0 because we spent too much on acquisitions. Not that I expected anything.
Yeah, because you made the decision for the acquisition...why does the CEO not lose his bonus and stocks for that decision?
HP was like that during the Hurd days. In the first paragraph he would write how the company had a record quarter, revenue and profit. Then the next paragraph would say something like "given the current uncertain economic environment, we must continue to watch costs carefully. We will be holding base pay flat in the coming cycle."
Let’s use your logic - The company had record profits and increases everyone’s compensation. If they have a bad year and lose money do they cut everyone’s compensation?
If they have a bad year, they let people go and get rid of cups. Actually at HP, yes for those who were lucky enough to hold onto their job during the recession, they gave everyone a 10% pay cut. https://www.cnet.com/news/hurds-memo-to-hp-employees-on-pay-cuts/
Yeah. Intel did cut the pay during the bad years.
I dodged that bullet and avoided intel. I could tell from the interview how depressed the employees were
Intel sucks
Who will use intel chips? They have competition from AMD, Broadcom, Qualcomm, Apple making their own chips, Samsung has their own chips, etc. Who actually uses intel? Dell, HP, etc can use intel but thats not enough volume. Intel can't break into other markets either because they are taken up by other leaders like Qualcomm and Broadcom.
Comp is not tied to a company’s profit. Comp is based on the market rate for each job
In some companies bonuses (and raises) have company multiplier in addition to the personal one. I.e. in a bad year high performer can get 1.2 personal multiplier and 0.9 company. In a good - 1.2 personal and 1.1 company. With 20% target annual bonus, company 1.1 multiplier means extra 2% of bonus. With base at 200k this means 4k. While this is not a big amount, absense of it in the year when company is getting record profit feels like big "f you, plebs" by many employees and results in unhappy grumbling in the office kitchen etc.
^^ this. Also do you know what is fucked up? The employees dont get bonuses during the big profit years, but the ceo get a a salary bump due to great profits. That just shows how bad this company is
this is no worse than Qualcomm. CEO and other execs get hefty raise, but every other engineer TC lags behind when compred in the entire industry
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Intel is on a death spiral—at least from the outside looking in. They’ve missed 10nm targets for the new chips, their new mainstream chips are barely scrapping by, it seems like a company that has lost the ability to execute and their innovation. I would be more worried about having employment there than attaining more money off one quarter.