EUR/USD 1.16649
0.265%
Gold 4570.65
1.399%
Oil 59.026
0.696%
USD/JPY 158.051
0.109%
GBP/USD 1.34309
0.186%
GBP/JPY 212.281
0.296%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
Barclays expects the Federal Reserve to cut interest rates by 25 basis points each in June and December, compared to previous forecasts of cuts in March and June.JPMorgan Chase no longer expects the Federal Reserve to cut interest rates in 2026, after previously anticipating a 25 basis point cut in January. JPMorgan Chase now expects the Fed to raise rates by 25 basis points in the third quarter of 2027.January 12th - Driven by strong Black Friday sales, Australian household spending in November 2025 is projected to rise 1.0% month-on-month. Citigroup stated that, given the increased spending, it has revised its fourth-quarter 2025 household consumption growth forecast upwards to 1.5% from 1.0% (the previous forecast was already high). Citigroup economist Faraz Said added that quarterly GDP growth may far exceed the Reserve Bank of Australias (RBA) expectations. Therefore, Citigroup maintains its previous assessment that the RBA will need to raise interest rates in February and May.The Hang Seng Index rose over 1% in the afternoon session, with Alibaba Health (00241.HK) leading the gains among constituent stocks, rising over 8%. The Hang Seng Tech Index is currently up 2.17%.January 12th, Futures News: Economies.com analysts latest view: Brent crude oil futures prices fell during the session, with the market exhibiting volatile trading as it digests the clearly overbought condition on the Relative Strength Index (RSI), especially given the negative signals from related indicators. Currently, prices are accumulating bullish momentum, which may help prices rise again. Meanwhile, Brent crude oil futures remain under dynamic support, with prices trading above the 50-day EMA, further enhancing the likelihood of a price rebound in the near future.

Intel Reduces Employee And Executive Salaries As The PC Market Declines

Aria Thomas

Feb 01, 2023 14:53

微信截图_20230201145424.png


Intel Corp (NASDAQ:INTC) announced on Tuesday that it has significantly reduced employee and management compensation, one week after issuing a lower-than-anticipated sales estimate due to a loss of market share to competitors and a decline in the PC market.


The cutbacks will range from 5% of base salary for mid-level staff to as much as 25% for the company's chief executive, Pat Gelsinger, according to an unnamed source with knowledge of the situation who was not authorized to speak publicly.


Addy Burr, a spokesperson for Intel, said in a statement that the "changes are intended to have a greater impact on our executive population and will assist support investments and the overall workforce."


Intel reported this week that its profit margins were plummeting as the PC industry has cooled following many years of expansion during the epidemic.


Gelsinger also acknowledged that Intel had "stumbled" and lost market share to competitors like Advanced Micro Devices (NASDAQ:AMD) Inc, which on Tuesday posted quarterly sales that topped Wall Street's estimates.


In addition to 5% cutbacks for mid-level staff, vice president level individuals would experience 10% reductions, and the company's top executives other than the CEO will receive 15% declines, according to a source familiar with Intel's compensation cuts.


In addition, the company has reduced its 401(k) matching program from 5% to 2.5% and banned merit raises and quarterly performance bonuses, according to the source.


Annual performance bonuses based on Intel's overall financial performance will continue, although the size of these payments has diminished in recent years as the business has lost ground to competitors, the source said.

Suggestion