Intel Cuts Pay Across the Board To Avoid Layoffs

segaboy81 writes: Internal reports of Intel cutting pay across the board are flooding the internet. It's now confirmed that CEO Pat Gelsinger will take a 25% cut, while everyone else takes a 5% to 15% hit. What's worse is it looks like they will remain cash-flow negative throughout 2023 despite all this. Intel's December earnings were revealed last week, showing significant declines in the company's sales, profit, gross margin, and outlook, both for the quarter and the full year.

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