Thread regarding Intel Corp. layoffs

Intel's new CEO to receive $1 million as base salary

Tan's employment agreement includes a three-year performance target, making him eligible to keep two-thirds of his stock awards if a "change in control" or a significant shift in the ownership takes place within 18 months of his joining.
Gelsinger's employment agreement did not have the "change in control" clause. His contract included a base salary of $1.25 million, and he was eligible for annual cash bonuses of up to 275% of that, according to regulatory filings.
He was also eligible to receive as much as $12 million as payout before leaving the company.
In another difference in the wording of the contract, Tan is required to devote "such time as is necessary" to perform his duties and responsibilities as CEO, while Gelsinger was asked to devote his "full business efforts and time to Intel"

https://www.reuters.com/technology/intels-new-ceo-receive-1-mln-base-salary-2025-03-14/

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| 2791 views | | 6 replies (last March 15, 2025) | Reply
Post ID: @OP+1jpbzq7tc

6 replies (most recent on top)

Why did Intel pay at least $15 millions salary to Pat just a few year ago to destroy it and hire this old man for only one million dollar to recovery it? Is this considered as WAGE DISCRIMINATION at CEO level that we can see obviously ? How about other ~ 100K employees that nobody knows about ?

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Post ID: @cp+1jpbzq7tc

Basically he’s a figurehead until they can sell/split the company.

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Post ID: @c9+1jpbzq7tc

That's 3 PEs worth. Way less if you ask me

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Post ID: @c1+1jpbzq7tc

At his age and status, money should not matter. The drive has to come from the fame of achieving the impossible.

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Post ID: @bx+1jpbzq7tc

There has to be dramatic and material change for the company to exist (and be profitable). Inevitable when any organization drifts or slows to market requirements. There are 1M examples of such change.

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Post ID: @bn+1jpbzq7tc

We're on the chopping block

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Post ID: @ab+1jpbzq7tc

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