![]() Gelsinger made the announcement after he said Intel received questions from staff about how long the pay cuts would last and why Intel did not cut its dividend when it announced the cuts last month. We are delivering on that commitment with our update today that we plan to begin restoring compensation later this year,” the spokesperson said in a statement to CRN. “When we communicated our decision to temporarily reduce employee compensation and suspend other reward programs, we committed to our employees that we would share our timeline for restoring these as soon as we were able. ![]() employees will return in January 2024, which is when Intel also plans to launch “reimagined” employee recognition programs, the memo added.Īn Intel spokesperson confirmed the timeline for restoring staff salaries and compensation programs. The chipmaker also plans to bring back quarterly profit bonuses in the third quarter, with payouts beginning the same month. ![]() In an internal Wednesday memo seen by CRN, Intel CEO Pat Gelsinger told employees that the company will restore the base salary back to 100 percent for impacted staff in October. Meanwhile, the head of the company’s Europe, Middle East and Africa business has resigned. ![]() Intel is vowing to restore the salaries of executives and senior employees this fall after their base pay gets reduced next month as part of the chipmaker‘s cost-cutting efforts. ![]()
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