Intel is cutting wages and bonuses so that it can still deliver its dividend to shareholders.
Articles talk about loss, etc, and that's true; but the reason wages are at stake (and jobs next) is because companies will never willingly miss a chance to sacrifice dollars on the alter of the shareholders.
It's this system that's the rot at the core of how big business operates.
The (only slightly) admirable thing here is that it's c-level and management wages and bonuses that are targeted.
That's a warm fuzzy moment that will last right until the working level pink slips roll out about a month or two after the dividend is paid.
Also, when a CEO can take a 25% pay cut and still make an obscene amount of money (~130million)… Eat the rich.
Intel, we'll deliver that dividend: https://www.google.com/amp/s/finance.yahoo.com/amphtml/news/intel-ceo-we-are-committed-to-the-dividend-200351998.html
Intel, let's tighten belts:
https://www.tomshardware.com/news/intel-cuts-wages-and-suspends-bonuses-following-catastrophic-quarter