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The Exiled · 24.02.2023., 18:11

Citiraj:

AMD execs cash big bonus checks while Intel's take pay cuts

Citiraj:

AMD approved hefty six-figure bonuses for several top execs earlier this month — at least four AMD VPs and the CEO, Dr. Lisa Su, will pocket substantial annual cash bonuses. In contrast, Intel’s diligent team faces painful salary cuts and suspended bonuses despite the bullish statements from Intel CEO Pat Gelsinger in 2022 when he talked about AMD being in the rear-view mirror. As for Intel, the company faces mounting difficulties highlighted during its most recent catastrophic quarter. In brief, mid-level and higher-ranked execs face pay cuts between 5 and 15%, with Pat Gelsinger taking a 25% cut. Wage raises and bonuses are out of the picture for these same execs, but hourly employees will still receive bonuses. AMD and Intel target many of the same markets, but some key differences exist in the company operations and structures.

Intel’s foundry business weighs heavily on its finances and fortunes, and it is busy restructuring and making massive investments around the globe to boost its manufacturing reach and prowess. For Intel employees currently enduring pay cuts, subsidies from multiple governments worldwide should help make the largest Intel investments successful in their respective locations. Intel also cut its long-standing dividend to free more cash for investment amidst its belt-tightening exercises, and also recently told employees that it will reverse its pay cuts later this year. That means that, as the cycle turns, the lean times could be followed by times of plenty, especially if Intel's drastic turnaround plan, which includes a pivot to the IDM 2.0 model, comes to fruition.

Izvor: Tom's Hardware