Intel, a semiconductor company, has given its employees some good news. It is keeping its promise and will reverse the earlier salary cuts. All eligible employees will also receive restricted stock units (RSU) as compensation in December. This decision benefits the employees and demonstrates Intel’s commitment to its workforce.
Intel stated in February that salaries would be restored to pre-cut levels beginning October 1. Employees will also begin receiving quarterly bonuses again in the third quarter of this year. This will benefit approximately 11,700 Israeli employees, including 7,800 development workers and 3,900 manufacturing workers.
Intel had previously reduced the salaries of various levels of management in January. Pat Gelsinger, CEO of Intel, saw his salary cut by 25%, while the executive leadership below him saw a 15% cut. Senior management, such as vice presidents, received a 10% pay cut, while mid-level management received a 5% pay cut. However, no salary reductions were imposed on technicians, engineers, or employees in junior positions.
Intel hasn’t said much about employee-related internal issues. However, this action demonstrates that the company cares about its employees and wants them to be happy at work.
By reversing the salary cuts and compensating employees through RSUs, Intel is likely to boost employee morale and demonstrate that they value their employees’ hard work. Intel’s emphasis on its employees will help it maintain its good employer reputation.