Dow Jones 30 Industrials (_INDU) Market Energy by techtrader Feb 7 2006 10:44PM EST Well it continues, with the Dow on 10,700 watch and the Nasdaq on 2200 watch.The daily energy for the Dow keeps falling with today's -11 daily energy,...
Intel Israel giving workers 3 months' salary as bonus
13.2.06 | 10:03 By Eynav Ben Yehuda Intel Israel has a history of sharing its success with workers, and 2005 was no exception. Workers received bonuses equivalent to three months' salary, TheMarker has learned.
The Intel staffers received some of the money last year but most of it in their January and February paychecks.
Intel is diligent about granting bonuses each year, but it's no kneejerk perk. The formula for each employee's bonus is complex, involving to what degree the worker met goals, Intel Israel's own profit and that of its parent company, Intel (Nasdaq:INTC).
While Intel is far from the only hi-tech company rewarding its workers, it is one of the most generous. The average is about one monthly salary.
Intel is also one of the only hi-tech companies that didn't stop giving bonuses during the tech crash from 2001 to 2003: it did scale back the scope, but it continued to share.
Intel Israel is presently in the process of expanding its plant in Kiryat Gat, at a massive investment of $3.5 billion. This is the biggest investment ever made in an Israeli plant. Upon completion, Intel Israel will be hiring more than 2,000 new workers. It already has 6,000 Israelis on its payroll.
Recently the global Intel Corp delivered lower than expected results for the last year, because of weak sales of desktop PCs. It netted $2.5 billion in the last quarter of 2005, or 40 cents per share, an increase of 23% against the parallel quarter and 16% sequentially. But analysts had expected more: earnings of 43 cents per share.
Quarterly revenues were $10.2 billion, an increase of 6% year over year and 2% from the previous quarter. But again the Street was aghast, having expected $10.5 billion sales.
Not that Intel's a slouch. For the year 2005 it achieved record sales of $38.8 billion, and netted $8.7 billion.
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