Intel cuts employee, executive salaries as it faces weak PC, chip demand

After posting a double-digit revenue decline for its fourth quarter of 2022, Intel is looking to weather a potentially problematic 2023 by making companywide cuts to employee pay.Responding to media reports about possible pay cuts, Intel said on Wednesday that in order to navigate “macro-economic headwinds and work to reduce costs across the company,” it has made several adjustments to its 2023 employee compensation and rewards programs.“[These changes] will help support the i