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Intel is cutting employee and executive salaries amid PC market downturn

Jan 31 (Reuters) – Intel Corp (INTC.O) said on Tuesday that it had taken broad cuts in employee and managerial salaries, a week after the company released a lower-than-expected sales forecast due to a loss of market share to competitors and a downturn in the PC market. The cuts range from 5% of base pay for middle workers to 25% for chief executive Pat Gelsinger, while the company’s hourly wage…

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