Still plans a ‘competitive dividend’ for investors
Investors were nonetheless paid a dividend and on its earnings call chief financial officer Dave Zinsner said the chipmaker is “committed to maintaining a competitive dividend.”
Meaning investors will get their share, even as workers’ pay packets lighten … and depreciate in value given that inflation is over six percent in most of the places Intel operates.Patel wrote that the salary cuts kick in at too low a level and will likely lead to employee disengagement. He added his opinion that Intel may be in an irreversible decline, with even the massive subsidies offered it by the US government too little to help it address structural issues.
Intel’s now less-well-paid workers will be hoping that an expected economic rebound sees PC buyers return to stores in late 2023, and that server buyers start to deploy workloads that need the , as both would improve Intel’s fortunes. But other challenges remain: big clouds are emphasising homebrew Arm-powered CPUs, China is going in a similar direction, and Intel is no certainty to dominate emerging markets like edge computing. ®
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