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Intel is giving four times the usual bonuses for its employees thanks to its record year with $43 billion in revenues. The company is also paying its workers the equivalent of 3 extra days of work on top of that.
The higher bonuses cap a year when many Silicon Valley companies offered raises or bonuses to employees to keep talent from being poached. Google said it was giving all of its employees a 10 percent raise back in November, partly because it had to fend off poaching by the faster-growing Facebook. Hewlett-Packard chief executive Leo Apotheker also gave HP employees raises after an era of cost-cutting under previous CEO Mark Hurd.
In Twitter messages, Intel employees are saying things like “champagne (er, sparkling cider) popped.” Tech company employees are going to be happy. And those that don’t get bonuses? They may walk down the street to the next employer. At Intel, all employees get bonuses based on a given multiplier every year. This year, the multiplier was 4X. In addition, every six months employees get profit sharing based on a number of days.