Intel Management per vedere grandi tagli salariali, Anche la non gestione è interessata

Intel didn’t exactly report stellar results for the past year and now news out of the US are reporting that the management team is in for big pay cuts, due to missing the earnings targets. Unfortunately the pay cuts aren’t limited to management level employees only, as everyone “level 7” and above are affected. Level 7 appears to be some groups of mid-level employees, such as staff engineers. Intel is said to have 14 different employee levels, where fresh graduates start at level 3 and the CEO is level 14. Pat Gelsinger is expected to see a 25 percent cut to his base salary, with the leadership team seeing a 15 percent cut in their base salary.

Tuttavia, VP’s are only seeing a 10 percent pay cut and those below VP—to level 6—will see a five percent pay cut. This is said to go into effect on the first of March and it might seem like those employees at lower hiring tiers are getting away without a pay cut, ma non è così semplice. Everyone else will see a pay freeze and incentives will be cut for all employees at Intel. This includes suspended quarterly profit sharing bonuses, no employee recognition program and the retirement plan contribution matching cut in half to 2.5 percent. The only perk left will be the annual bonus. Considering the current state of the world, the upside of all of this, is that Intel is at least not laying off any employees as of right now, at least not officially. Detto, we might see some employees jumping ship to Intel’s competitors, if they can offer a more attractive package. We should point out that the average salary at Intel is around US$134,000, so it’s unlikely that most of its employees will suffer due to the reduction in pay.