Salary Cut

Intel CEO Pat Gelsinger will take a 25 percent salary cut, the company announced on Tuesday. The chipmaker is cutting management salaries across the firm, as it tries to save cash for its turnaround plan. Last week, Intel provided a gloomy outlook, predicting one of the worst quarters in its more than 50-year history, amid a shaky global economy.

Intel spokesperson Addy Burr said the "changes are designed to impact our executive population more significantly and will help support the investments and overall workforce."

Several multinational companies including Amazon, Goldman Sachs, Microsoft, Meta, Google and Swiggy are laying off thousands of employees.

Apple CEO Tim Cook is taking a 40 percent pay cut in 2023 and will earn $49 million (roughly Rs. 399 crore) for the year. Apple took the decision after they received investor guidance and a request from Cook himself to adjust his pay. For 2022, Cook received compensation of $99.4 million (roughly Rs. 809 crore), including $3 million (roughly Rs. 24...

The insolvency resolution process of Jet Airways started in June 2019 after its then-promoters failed to provide liquidity.

Air India will restore salaries that were cut in the wake of the coronavirus pandemic from September 1, according to a communication.

Ford Motor Co said it will cut a total of 3,000 salaried and contract jobs, mostly in North America and India, as it restructures to catch up with Tesla Inc in the race to develop software-driven electric vehicles.

IndiGo said it will "rationalize" the salaries of its aircraft maintenance technicians and remove "anomalies cause by the pandemic", according to an email accessed by Press Trust of India send by IndiGo's Senior Vice President (Engineering).

A message sent to executives on Thursday laid out his concerns and told them to "pause all hiring worldwide."

Tesla laid off roughly 200 hourly workers working on its Autopilot driver-assistant system and shuttered its office in San Mateo, California on Tuesday, according to employees. The move comes after Tesla Chief Executive Officer Elon Musk previously revealed that Tesla would need to cut staff by about 10 percent. However, the cuts were expected to a...

Coinbase-funded Vauld crypto exchange has laid-off 30 percent of its staff amid the ongoing market slump in the crypto industry. Vauld is headquartered in Singapore, but most of its workforce reportedly operates from India. For those being let go, Vauld is paying them salaries for two months, extending a 12-month medical insurance, and helping them...

A message sent to executives laid out his concerns and told them to "pause all hiring worldwide."

Tesla's CEO Elon Musk has confirmed that the company will soon see a 10 percent cut in salaried staff at the electric car maker over three months. He also predicted a US recession was more likely than not.

Elon Musk, CEO of Tesla, said a 10 per cent cut in salaried staff at the electric car maker will happen over three months

Tesla is cutting its salaried workforce by about 10 percent over the next three months, resulting in an overall reduction of some 3.5 percent in total headcount as hourly staff numbers are still expected to grow, Chief Executive Officer Elon Musk said.

Intel CEO Pat Gelsinger will take a 25 percent salary cut, the company announced on Tuesday. The chipmaker is cutting management salaries across the firm, as it tries to save cash for its turnaround plan. Last week, Intel provided a gloomy outlook, predicting one of the worst quarters in its more than 50-year history, amid a shaky global economy.

Intel spokesperson Addy Burr said the "changes are designed to impact our executive population more significantly and will help support the investments and overall workforce."

Several multinational companies including Amazon, Goldman Sachs, Microsoft, Meta, Google and Swiggy are laying off thousands of employees.

Apple CEO Tim Cook is taking a 40 percent pay cut in 2023 and will earn $49 million (roughly Rs. 399 crore) for the year. Apple took the decision after they received investor guidance and a request from Cook himself to adjust his pay. For 2022, Cook received compensation of $99.4 million (roughly Rs. 809 crore), including $3 million (roughly Rs. 24...

The insolvency resolution process of Jet Airways started in June 2019 after its then-promoters failed to provide liquidity.

Air India will restore salaries that were cut in the wake of the coronavirus pandemic from September 1, according to a communication.

Ford Motor Co said it will cut a total of 3,000 salaried and contract jobs, mostly in North America and India, as it restructures to catch up with Tesla Inc in the race to develop software-driven electric vehicles.

IndiGo said it will "rationalize" the salaries of its aircraft maintenance technicians and remove "anomalies cause by the pandemic", according to an email accessed by Press Trust of India send by IndiGo's Senior Vice President (Engineering).

A message sent to executives on Thursday laid out his concerns and told them to "pause all hiring worldwide."

Tesla laid off roughly 200 hourly workers working on its Autopilot driver-assistant system and shuttered its office in San Mateo, California on Tuesday, according to employees. The move comes after Tesla Chief Executive Officer Elon Musk previously revealed that Tesla would need to cut staff by about 10 percent. However, the cuts were expected to a...

Coinbase-funded Vauld crypto exchange has laid-off 30 percent of its staff amid the ongoing market slump in the crypto industry. Vauld is headquartered in Singapore, but most of its workforce reportedly operates from India. For those being let go, Vauld is paying them salaries for two months, extending a 12-month medical insurance, and helping them...

A message sent to executives laid out his concerns and told them to "pause all hiring worldwide."

Tesla's CEO Elon Musk has confirmed that the company will soon see a 10 percent cut in salaried staff at the electric car maker over three months. He also predicted a US recession was more likely than not.

Elon Musk, CEO of Tesla, said a 10 per cent cut in salaried staff at the electric car maker will happen over three months

Tesla is cutting its salaried workforce by about 10 percent over the next three months, resulting in an overall reduction of some 3.5 percent in total headcount as hourly staff numbers are still expected to grow, Chief Executive Officer Elon Musk said.