Companies
Thousands of Intel Ireland staff hit by pay cuts and bonus freezes as chipmaker slashes costs again
Company is freezing bonuses and salaries for mid-level employees, while higher earners will have their pay cut
Thousands of staff at Intel’s Irish operation will be impacted by cuts at the chipmaker, with pay reductions for senior staff and salary and bonus freezes for mid-level employees, the Business Post understands.
Workers at the firm’s Leixlip plant were informed of the news at a company-wide meeting on Tuesday night, following grim earnings projections in which Intel forecasted revenues $3 billion below analysts’ estimates.
Quarterly bonuses and salary increases have been frozen for all ...
