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Intel Corp. Chief Executive Pat Gelsinger and other managers are taking pay cuts, days after the chip maker posted quarterly earnings that disappointed Wall Street and spurred a downgrade in the company’s credit rating.
Mr. Gelsinger, in the top job for two years, will see his base pay reduced 25%, Intel said. Other cuts will be staggered, the company said, with base-pay hits of 15% for members of the executive team, 10% for senior managers and 5% for midlevel managers.
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