Intel employees wait for good news, the company promises to cancel wage cuts and issue restricted stock

CTOnews.com, August 3 (Xinhua)-- Intel Corp. issued a notice to employees on Tuesday that the company decided to make good on its promise to withdraw previous wage cuts and decided to issue restricted stock units (RSU) to all eligible employees as compensation in December.

Intel announced in February that wages would return to pre-cut levels from October 1. In addition, the company's employees will regain their quarterly bonuses from the third quarter of this year.

CTOnews.com had previously reported that the cuts disclosed by Intel in January included a 25 per cent cut in the salary of chief executive Pat Gelsinger (Pat Gelsinger) and a 15 per cent cut in the salaries of senior leaders who reported directly to Mr Gelsinger. In addition, the company cut salaries for senior management (vice president and above) by 10 per cent and middle management by 5 per cent, leaving technicians, engineers and entry-level employees unaffected.