Intel, Kildare CEO approved for €42m stock plan
News comes as Intel set to cut over 20% of its global workforce
Intel's new CEO, Lip-Bu Tan could receive a massive $42 million in stock based on performance as part of plans by shareholders for the Kildare-based plant.
The figure, as reported by KFM, is the potential total value of the stock awards, assuming Intel hits performance targets.
KFM reports that Intel shares fell 1.6% Tuesday and are down 36% over the past year.
The news follows recent reports that Intel is set to cut over 20% of its global workforce as part of a major restructuring plan under Lip-Bu Tan.
Workers at the Leixlip plant may have to wait until July to learn the full impact of the CEO's decision, and if there will be job losses at the Leixlip operation.
The move follows a previous round of job cuts in 2024 and is part of a wider cost-reduction strategy aimed at reshaping the company’s focus.
Intel currently employs around 4,900 people in Leixlip, County Kildare.