Tech

Intel staff pay cuts and bonuses to be restored from October

Company cut shareholder dividend by almost two thirds due to declining revenues in move to save $4 billion

Intel has told staff that salaries will be returned to 100 per cent in October and that quarterly bonuses will be restored

Intel staff impacted by salary cuts and bonus freezes, including thousands employed at its Irish operation, will have their pay restored from October, the Business Post understands.

There have been pay reductions for senior staff, as well as salary and bonus freezes for mid-level employees, at the chip-maker’s Irish arm.

Quarterly bonuses and salary increases were frozen for all staff at lower grades, while employees from grade 7 upwards – those on higher pay – ...