Tech

Intel is committing over $ 2 billion to its employees.

TL; DR: Intel recently shared a presentation with its employees that said it is increasing its compensation budget by more than $ 2 billion. The new budget added $ 1 billion in wages and $ 1.4 billion in equity compensation. Most of this amount will go to current employees, but some will be used to attract new employees.

Intel said in a statement that the payroll restructuring was “designed to enable Intel to win a fierce battle for talent in today’s competitive marketplace,” it said in a statement. Oregonwho saw the presentation. This will “revive” their culture and “advance” the company’s business strategy.

In Oregon, where Intel’s largest manufacturing facilities are located, the company pays approximately $ 4.6 billion annually to its 21,000 local employees. It employs around 110,000 people worldwide.

The new budget added $ 1 billion in wages and $ 1.4 billion in equity compensation. Equally distributed, this equates to about $ 20,000 per employee.

However, it will disproportionately target employees with specialized knowledge and high performing employees. Intel may be concerned that its competitors are poaching talent, which Intel itself is notorious for.

According to various company review sites, historically Intel has had a habit of underpaying its technicians. Intel’s meager annual revenue growth figures prominently in negative reviews of the company. The atmosphere on Intel’s production line is also considered tense; recently, in particular. To that end, Intel wants to ease some of that stress by providing more paid free time and mental health services.

Intel needs to make itself more attractive if it wants to attract enough workers to staff its many planned expansions, which include the addition of $ 3 billion to an Oregon campus, a $ 7 billion factory in Malaysia, their third Irish factory, and a planned factory in Germany. …


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