Intel has come up with a cunning scheme to ensure it doesn’t lose out to its rivals in the semiconductor industry: it’s giving employees a handsome raise.
The company is said to have set aside roughly $2.4 billion to bolster employee paychecks in early 2022. In a memo delivered to staff, Intel explained that $1 billion will go towards padding out wage packets, while a further $1.4 billion will be distributed to employees in the form of shares.
The company will reportedly avoid a “spray and pray” approach to distributing the rewards. Instead, raises will be allocated based on performance, the person’s value to the company, and the likelihood they will be poached by a competing organization.
