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Intel Is Set To Slash Employee Salaries – Report

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Intel Corp on Tuesday confirmed it had implemented broad employee pay cuts. Cuts will range from 5% base pay for middle-level employees to 25% for Chief Executive Pat Gelsinger. In contrast, the pay of the company’s hourly employees will not be cut, a person familiar with the matter told Reuters.

Intel spokesperson Addy Burr said the “changes are designed to impact our executive population more significantly and will help support the investments and overall workforce.”

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