Also a grant of $ 2 billion, also a bonus of 3 salaries
Competition for the services of the best minds in the high-tech industry reaches a peak: Intel Global will distribute a horizontal grant of $ 2 billion (about 1% of the company's value) as well as an annual bonus of several salaries.
Employees in Israel will enjoy, in addition to the grant, a bonus of 3 salaries
Tuesday, 21 December 2021, 11:40 Updated: 12:25
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The technology giant's well-known slogan is "Intel-Inside", but it turns out that towards the end of the year it pays to be "Inside-Intel", that is - to belong to close to 110,000 company employees worldwide, of which about 14,000 in Israel.
The reason: a horizontal bonus of over $ 2 billion for all the company's employees, part of which will be given through a salary benefit and part in the form of options.
In other words, about $ 20,000 per employee, to the extent that the grant is divided equally.
Since there are likely to be some who will benefit a little more, there will be employees who will receive a grant, whether in cash or in cash equivalent of six digits.
What else can an employee ask for?
Turns out he can: for example an increased end-of-year bonus.
Intel employees are usually rewarded with an annual bonus of several salaries, and thus the company's employees in Israel will enjoy a bonus of 3 monthly salaries ...
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Yaniv Gerti, CEO of Intel in Israel. The company's employees will enjoy a bonus of three salaries, in addition to the global grant (Photo: Reuven Castro)
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We will now apologize to Intel employees for invading their pockets and assume for a moment that the average employee received the relative share of the grant worth about NIS 65,000.
Suppose for a moment that the same employee earns "only" about NIS 30,000 a month (and in the high-tech field there are many who earn more than that, even much more) that employee will end the year with a cumulative grant of NIS 155,000, about 15 times the average wage in the economy.
Intel's global management has announced, with the expense of knowing about the global grant, that this is a complementary step to the company's global remuneration policy, which tends to reward its employees both with fixed bonuses of several salaries and special remuneration for specific performance.
The company's announcement also spoke of the need to fight for the services of those who excel in the field - in view of the growing demand for professionals in the high-tech industry.
Intel Global has a number of factories and development and production centers, including in Israel, but also in Europe (Germany and Ireland), Asia (Malaysia) and of course the United States, the company's market value is about $ 201 billion, of which - as a percentage - distributed as a horizontal bonus to all employees Intel:
It should be noted that the $ 2 billion lateral grant is the first to be distributed by Pat Glasinger, the CEO who replaced Bob Swan in February this year.
Intel's CEO in Israel is Yaniv Gerti.