Intel has a lot to report today - from executive payments to unionization.
Patrick Gelsinger, CEO of Intel; Image: Bloomberg
No compensation payment for Intel CEO
Intel CEO Patrick Gelsinger doesn't like to hear that. Last week, Intel shareholders voted on whether the company's executives should receive a compensation payment. The vote showed that 66% of shareholders don't want them to.
With most compensation from large companies, the payment is in stock because there you still have the opportunity to increase your 'salary'. This is also the case with Intel.
Meta hires employee from Intel
Facebook's parent company has hired a so-called 'chip guru'. Accordingly, he knows a lot about silicon engineering. Meta plans to produce the infrastructure they need by themselves. However, competition for Intel isn't an option, as this would have legal consequences for Meta.
Intel engineers want to unionize
The latest news of the day from Intel is an unionization. Currently, 350 people are leading the largest unionization Intel has ever seen. The group, which has been meeting privately for over a year, wants Intel to sign a contract that the company will recognize the group and not destroy the union (not like Amazon, Starbucks and many others).
One engineer reports that for three months he put in 80-hour weeks and had to work a night shift depending on the whim of management. As a result, he suffered physical and psychological damage and was put on emergency leave by his doctor. He further related that he received a warning letter when he returned to work. This on the reason that he had not informed his supervisor in advance about the emergency leave.
