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What's the deal with pay cuts though?
not hitting the top brass too hard, though:
Last year, Intel said Gelsinger’s targeted remuneration for 2022 was $26.3mn, with only $1.25mn of that representing the base pay that is subject to the pay cut. The rest is set to come in the form of an expected cash bonus and long-term incentive equity award.
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I was thinking "well better to do pay cuts than mass layoffs like all the other tech companies" but the article suggests that they also will be making layoffs. They'll end up with their best people wanting be laid off so they can get the payout and then go get a better paid job elsewhere. It's such a bad decision...
ChasnotRobert
hazzelfrazzel
@kboy
What's the deal with pay cuts though? Isn't it better to just cut staff, starting with the deadwood?