Intel CEO Pat Gelsinger Takes 25 Percent Pay Cut as Part of Company-Wide Salary Reductions

Intel CEO Pat Gelsinger will take a 25 percent salary cut, the company announced on Tuesday. The chipmaker is cutting management salaries across the firm, as it tries to save cash for its turnaround plan. Last week, Intel provided a gloomy outlook, predicting one of the worst quarters in its more than 50-year history, amid a shaky global economy.

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