Intel cuts employee salaries, CEO pay by 25%: Report

Intel cuts employee salaries, CEO pay by 25%: Report

Bloomberg | | Posted by Ritu Maria Johny Intel Corp., struggling with a rapid drop in revenue and earnings, is cutting management pay across the company to save cash it needs to invest in a turnaround plan. Chief Executive Officer Pat Gelsinger is taking a 25% cut to his base salary, the chipmaker said Tuesday. … Read more

PayPal to cut 2,000 jobs in latest tech layoffs

PayPal to cut 2,000 jobs in latest tech layoffs

PayPal Holdings Inc. said it will cut 2,000 staffers as it contends with a macroeconomic slowdown that’s weighed on the firm’s business in recent quarters. The cuts, which will affect about 7% of employees, will take place in the coming weeks, Chief Executive Officer Dan Schulman told employees in a memo. “While we have made … Read more