intel ceo pat gelsinger with us president joe biden not pictured announces the tech firm’s plan to build a 20 billion plant in ohio from the south court auditorium on the white house campus in washington january 21 2022 intel executives will take significant staggered basepay cuts just days after the chipmaker reported abysmal fourthquarter earnings the company said wednesday the cuts will impact executives ranging from ceo pat gelsinger to midlevel managers gelsinger will have his base salary cut by 25 gelsingers pay cut would be a little over 312000 like many chief executives the vast majority of gelsingers compensation is from stock awards and options gelsingers base pay was 125 million according to his offer letter or just a small fraction of his nearly 179 million in total compensation for 2021 his first year in the top job intels pay cuts will also impact executives further down the line the company told the journal executive team members will take a 15 cut senior managers and midlevel managers will see pay slashed by 10 and 5 respectively lowerlevel employees would not be affected by pay cuts the company told the wall street journal as we continue to navigate macroeconomic headwinds and work to reduce costs across the company weve made several adjustments to our 2023 employee compensation and rewards programs these changes are designed to impact our executive population more significantly and will help support the investments and overall workforce needed to accelerate our transformation and achieve our longterm strategy the company said the company reported a net loss of 644 million for the fourth quarter of 2022 and offered a weak 2023 outlook including a 40 yearoveryear decline in sales in the march quarter intel rival amd  on the other hand beat on both the top and the bottom lines but guided down 10 for the upcoming quarter