Intel reduces salaries and benefits

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Source: Dukascopy Bank SA
In the aftermath of abysmal quarterly results, Intel Corporation has announced that it would cut salaries from 5.00% up to 25.00%. In addition, the company is set to reduce its matching of pension fund programs.
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Wed, 01 Feb 2023 22:47:42 GMT

US Federal Reserve hikes Federal Funds Rate

The United States Federal Reserve Federal Open Market Committee has hiked the US Federal Funds Rate from 4.50% up to 4.75%. The market consensus was that the US Fed would hike the base interest rate by 0.25%.

Thu, 02 Feb 2023 12:30:06 GMT

PayPal lays off workforce

The financial payments company PayPal has revealed that it would lay off nearly 2,000 employees. The company is one of the many among the recent string of layoffs. Recently, the stock markets for an unknown reason have reacted positively to any major firing.

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