ISRAEL AT WARIntel will provide employees in Israel with up to $3,000 for personal expenses related to the war
ISRAEL AT WAR
Intel will provide employees in Israel with up to $3,000 for personal expenses related to the war
“We’re highly confident in the capabilities of our Intel Israel team to continue to perform despite the atrocities”, said Pat Gelsinger, Intel CEO
Intel will grant its employees in Israel up to $3,000 for personal expenses related to the conflict, as reported by 'Calcalist.' According to the company, this is not a predetermined grant but an amount that will be provided based on the relevant expenses that employees report.
On Thursday, Pat Gelsinger, the CEO of Intel, mentioned the ongoing conflict between Israel and the terrorist organization Hamas in the Gaza Strip. He expressed his appreciation for the workers in Israel during a conversation with analysts about the company's quarterly reports. Gelsinger stated, “We’re highly confident in the capabilities of our Intel Israel team to continue to perform despite the atrocities”.
He also expressed his hope for a swift return to peace without specifically relating to Israel's military activity in Gaza that came in response to the massacre of more than 1,400 Israeli civilians by Hamas terrorists. Intel employs approximately 12,000 workers in Israel, with around 4,000 at the factory in Kiryat Gat, located 25 kilometers from the Gaza border."
In the third quarter of 2023, the chip giant's revenues stood at $14.2 billion, reflecting an 8% decrease compared to the same quarter last year. However, this figure exceeded analysts' forecasts, which had anticipated the company's revenues to be $13.5 billion. Net profit experienced a significant 71% decline, reaching only $300 million, and adjusted earnings per share amounted to 7 cents, in contrast to forecasts that had expected adjusted earnings of 21 cents per share.
