Intel Cuts Pay Across Company to Preserve Cash for Investment



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Intel Corp., suffering with a rapid drop in sales and profits, is reducing control pay during the agency to cope with a shaky economic device and to keep coins for an formidable turnaround plan. 

Chief Executive Officer Pat Gelsinger is taking a 25% reduce to his base earnings, the chipmaker said Tuesday. His government management crew will see their pay packages decrease by means of 15%. Senior managers will take a ten% cut price and mid-level managers a 5% reduce. Intel stocks climbed zero.1% in premarket trading in New York Wednesday. The stock misplaced almost half its cost last yr.