U.S. chipmaker Intel Corporation is cutting pay across its workforce days after the company shocked Wall Street with below-expectations revenue and a forecasted loss for the current quarter.
Intel CEO Pat Gelsinger will receive 25% less pay, and the rest of his executive leadership team will take a 15% pay cut. But the chipmaker is slashing compensation across the company, cutting pay even for mid-level managers by 5%. Hourly workers will not be affected.
