https://www.semianalysis.com/p/intel-cuts-pay-for-employees-to-keep
Intel’s leadership has decided that the dividend is more important than employee retention, which is bad news for the long-term future of the company.
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"Intel’s foul financials have flowed into senior workers’ pay packets, which will reportedly be lightened by at least five percent.
Semiconductor analyst Dylan Patel wrote that Chipzilla staff have informed him “All employees below Principal Engineer … will get a 5 percent cut, 10 percent cuts will be instituted for VPs, and the executive leadership team will take a 15 percent cut, with CEO Pat Gelsinger taking a 25 percent cut.”
article below ....
https://www.theregister.com/2023/02/01/intel_pay_cuts/
It’s a publicly traded company. If you sc--w the stock holders then they’ll divest and then you’re just out of business. Stock is barely afloat as is.
This is one author’s opinion , the article doesn’t present any evidence that this was the reason for the cuts. The company needs to reign in costs.