Intel Corp (NASDAQ:INTC) recently announced plans to slash jobs in an effort to drive cost savings across its business.
Here’s a look at just how much Intel was paying its employees and how it compares to other tech giants.
Don't Miss:
The average American couple has saved this much money for retirement — How do you compare?
This startup is on the brink of a huge disruption to the $654 billion industry – Here’s how to invest in it before it fulfills its 800 pre-orders in the next 2 weeks.
What To Know: Intel and other big tech companies rarely share salary details. However, they must disclose salary offers or potential salary ranges when they hire foreign workers through the H-1B visa program.
According to a Business Insider report citing work-visa applications submitted to the U.S. Office of Foreign Labor Certification in 2022, Intel’s highest salary offer was around $263,000, sent to an engineering manager.
Trending: Here’s the AI-powered startup that turns traders into influencers achieving 12% monthly growth – invest in it at only 10 cents per share.
Intel announced a cost-reduction plan last week.
The actions include structural and operating realignment across the company. This includes headcount reductions of greater than 15% plus operating expenses and capital expenditure reductions of more than $10 billion in 2025. Intel’s headcount is currently around 125,000, so the company is likely to lay off around 19,000 employees.
Here’s a look at the annual salary of those former Intel employees:
Business Intelligence Analysts: $65,437 to $142,438
Information Security Analysts: $107,994 to $170,248
Supply Chain Planning Analysts: $85,467 to $96,034
Product Marketing Engineers: $102,606 to $150,093
Mechanical Engineers: $81,765 to $121,576
Engineering Managers: $117,624 to $263,952
Application Developers: $92,488 to $121,763
Program Managers: $67,621 to $168,834
Data Scientists: $65,229 to $152,681
Trending: Amid the ongoing EV revolution, previously overlooked low-income communities now harbor a huge investment opportunity at just $500.
Why It Matters: When compared to other big tech companies, Intel appears to be offering prospective employees less money. It’s worth noting that the data doesn’t include stock-based compensation, individual performance rewards or bonuses that can significantly increase overall pay.
Nvidia Corp (NASDAQ:NVDA), which has been the biggest beneficiary of theAI boom to date, has offered salaries ranging from $74,460 to $786,000.
See Also: Don’t miss out on the next Nvidia – you can invest in the future of AI for only $10.
Fellow AI leader Microsoft Corp (NASDAQ:MSFT) made salary offers ranging from $77,000 to $310,000 in 2022 and Microsoft-backed OpenAI is paying the average engineer about $925,000 per year in total compensation.
Apple Inc (NASDAQ:AAPL) offered prospective workers base salaries of $102,000 to $322,000 in 2022 and Alphabet Inc (NASDAQ:GOOG) offered workers salaries ranging from $55,000 to $340,000.
Read Next:
Don’t miss the real AI boom – here’s how to use just $10 to invest in high growth private tech companies.
Elon Musk and Jeff Bezos are bullish on one city that could dethrone New York and become the new financial capital of the US. Investing in its booming real estate market has never been more accessible.
"ACTIVE INVESTORS' SECRET WEAPON" Supercharge Your Stock Market Game with the #1 "news & everything else" trading tool: Benzinga Pro - Click here to start Your 14-Day Trial Now!
Get the latest stock analysis from Benzinga?
This article Nearly 20,000 Intel Employees Are Heading For The Exits: How Salaries Stack Up Against Nvidia, OpenAI, Microsoft And More originally appeared on Benzinga.com