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On September 6, Russian Presidential Aide Ushakov said early on the 6th that President Putins meeting with US President Trumps special envoy Witkov and son-in-law Jared Kushner at the Kremlin on the evening of the 5th lasted more than three hours and was substantive and "constructive." Ushakov said that the Russian side made a clear and comprehensive assessment of the current situation, including the situation developing during the special military operation. In particular, the Russian side pointed out the actual progress made by the Russian army in the theater of operations and expressed confidence in achieving its established objectives, while also emphasizing the necessity of eliminating all the root causes of the conflict. Ushakov stated that Russia reiterated its willingness to continue working with the US to seek a solution through political and diplomatic means. Both sides confirmed that the two presidents will continue to maintain direct contact.Russian Presidential Aide Ushakov: Putin is prepared to cooperate with the United States to seek a diplomatic solution to the Russia-Ukraine issue.September 6 - According to the Islamic Republic News Agency (IRNA), the public relations department of the Iranian Islamic Revolutionary Guard Corps issued a statement on September 5 denying that the Isfahan nuclear technology center and nuclear facilities had been attacked, calling the related reports purely fabricated. The statement said that spreading such content during the current sensitive situation is an attempt by hostile forces to create tension, disrupt public opinion, and incite public panic.September 6 - According to Irans Fars News Agency, a deputy political official of the Iranian Revolutionary Guard Navy stated that in the 10 days leading up to August 30, Iranian naval forces were "punishing" two to five "violations" of regulations every night in the Strait of Hormuz. The official added that the US attacks "did not cause the slightest disruption to Irans control in the region."On September 6th, Israeli public radio reported on the 5th that the Israeli military is preparing to partially withdraw from southern Lebanon and plans to establish a smaller "safe zone" along the Lebanese-Israeli border. The report stated that the Israeli military recently completed the destruction of Hezbollah tunnels beneath the Ali Tahir heights in the Nabatayah region of southern Lebanon, subsequently formulating the aforementioned relocation plan. Israeli security officials said that under the new plan, the Israeli military will withdraw to a position closer to the Lebanese-Israeli border, reducing the depth of its controlled area in southern Lebanon from the current approximately 10 kilometers to 3-4 kilometers. The new deployment line, referred to as the "grey line," will replace the current "yellow line."

Intel Reduces Employee And Executive Salaries As The PC Market Declines

Aria Thomas

Feb 01, 2023 14:53

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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.

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