Intel could learn from this.
A quote from a former Nintendo president that is being followed by the current management:
“If we reduce the number of employees for better short-term financial results, employee morale will decrease. I sincerely doubt employees who fear that they may be laid off will be able to develop software titles that could impress people around the world.”
https://www.polygon.com/23590709/nintendo-japan-pay-raise
You should be CEO because you obviously understand the business better than anyone else. NOT!
Pay cut is the easiest and cheapest way to shore exit door to people. But top talent will go and people with PowerPoint skill set will stay.
Intel wants to reduce headcount. By salary cut people will leave and also at the same time pay less. The chose this to avoid paying for packages but downside is the remains low talent will leave and will end up ratio of 3 managers for each person.
Different set of rules? Intel’s CEO is a savior. A water-walking silicon savant with a direct line to Jesus Christ. Trust him, work for free, and the Gehlsinger in the sky will reward you in the after-life.
But they have a solid business plan and Intel is on the road to self destruction with IDM and IFS lose and lose