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World's largest producer of computer chips.
2200 Mission College Blvd.
Santa Clara, CA 95052
CEO: Brian Krzanich
Stock Symbol: INTC
Intel is the world's leading maker of computer chips and powers more than 90% of the world's computers with its processors inside.
Intel supplies the computing and communications industries with chips, boards, systems, and software building blocks that are the "ingredients" of computers, servers, smartphones, networking and communications products.
Revenues in 2013 were $52.7 billion, down 1% from the previous year, and net income was $9.6 billion.
PC Client Group revenue at the company was $33.0 billion in 2013, down 4 percent from 2012. Computer sales have declined over the past couple of years due to increased purchases of tablets.
Brian Krzanich was appointed chief executive officer of Intel Corporation and elected a member of the board of directors on May 16, 2013. He replaced Paul Otellini.
Intel said it would spend $11 billion this year on research and development.
The company plans to cut over 5,000 jobs this year.
Founded in 1968 by Bob Noyce and Gordon Moore to build semiconductor memory products, Intel introduced the world's first microprocessor in 1971. The company name Intel was chosen, short for "integrated electronics." That name was taken by a company that called itself Intelco, so Moore and Noyce purchased the rights.
Apple Computer switched to using Intel chips in 2005 for its entire computer line.
Employees receive salary, stock options and opportunity for cash bonuses twice per year based on company profits.
Intel United States provides a broad range of medical plan types to choose from, assuring employees cost-effective and flexible choices when selecting a quality health plan. Types of plans include Health Maintenance Organization (HMO) plans where regionally available, a Point of Service (POS) plan, a Preferred Provider Organization (PPO) plan, a consumer-driven health plan and a high-deductible health plan. Intel and employees share the cost of employee and dependent health care coverage. Dependent health care coverage is available to full-time employees only.
Intel offers dental care through two types of dental plans, available at most major U.S. sites; the national Intel Dental plan and Dental Health Maintenance Organization (DMO) plans where regionally available. Employee premium cost is paid by Intel in most cases.
Sheltered Employee Retirement Plan
Intel's Sheltered Employee Retirement Plan (SERP) is designed to be a partnership between you and Intel, with each playing an active role in preparing for your retirement. SERP has three components:
1. Intel 401(k) Savings Plan Intel's voluntary 401(k) Savings Plan allows employees to contribute up to 50% of their eligible earnings, to an IRS maximum of $14,000 in 2005, on a pretax basis to a wide range of investment choices.
2. Intel Profit Sharing Retirement Plan - Through the profit-sharing plan, an eligible employee's portion of Intel's profit-sharing contribution is put aside pretax for future security. Intel's profit-sharing contribution is a discretionary contribution determined annually based on the company's profitability. Intel contributed 8% of eligible earnings to employees in 2003.
3. Intel Defined Benefit Pension Plan - if the profit sharing plan does not provide the defined minimum retirement benefit, then the pension plan will make up the difference. In effect, employees receive the higher of the value of their profit sharing account or the defined benefit under the pension plan.
Sheltered Employee Retirement Medical Account
After you retire, Intel will contribute towards the cost of your retiree medical plan coverage based on your eligible years of service.
All employees at Intel United States are provided with Life, Accident and Long-Term Disability insurance benefits at no cost. Life insurance and Accidental Death and Dismemberment insurance coverage is up to two times eligible annual earnings. The Long-Term Disability insurance benefit for an approved disability is 65% of eligible annual earnings, up to $10,000 per month.
Supplemental Life insurance is available for employees and their dependents at costs that vary with the coverage selected. Short-Term Disability, Supplemental Accidental Death and Dismemberment, and Dependent Accidental Death and Dismemberment insurance coverage are also available.
Business Traveler Accident Insurance
In addition to basic life insurance and basic accidental death insurance, Intel United States provides business traveler accident coverage for all employees. The coverage begins when employees leave their residence or place of regular employment for an Intel trip and continues until they return to their residence or place of regular employment, whichever occurs first. Business traveler accident coverage equals five times an employees' annual salary, rounded to the next higher $1,000 and subject to a $1,000,000 (U.S.) maximum.
Salaried employees receive about three weeks per year of vacation and personal time. After 10 years of service, salaried employees receive about four weeks' of vacation and personal time.
Non-exempt employees accrue up to 80 hours per year of vacation time, plus up to 80 hours per year of personal absence/sick time.
Intel exempt employees in the United States have ten paid holidays each year, one of which is an employee-specified "floater" holiday. Non-exempt employees receive 80 hours of paid holiday time, 8 hours of which are employee-specified "floater" holiday hours.
Intel provides an 8-week sabbatical, with full salary, after each seven years of full-time service. When combined with your annual 3 or 4 weeks of vacation, a sabbatical leave can provide up to 12 weeks of paid time off.
Flexible Work Arrangements
Intel supports flexible work arrangements that are appropriate for the job and location. In agreement with your manager, you may telecommute, work part time, job share, adopt alternative start and stop times or make other arrangements that meet your and Intel's needs.
Employee Assistance Program
Intel contracts with an independent employee assistance service to support employees experiencing personal problems or crises. Employees and eligible dependents may receive a confidential, professional assessment for mental health, chemical dependency, family or general living problems. Trained counselors, who are not employed by Intel, can also refer callers to local resources for assistance.
Work/Life Support Programs
Intel offers a variety of resources for employees. Childcare programs are available at most major sites providing employees with priority access to center and home-based care in their communities. When normal childcare arrangements are not available, Intel offers backup childcare benefits to help employees meet their work and family needs. Several campuses have onsite fitness centers and onsite stores and services including dry cleaning, photo developing, nationwide discounts and more. Intel provides access to free resource services and seminars, covering a variety of topics including parenting, healthy lifestyles, financial planning, eldercare and more.
Dependent Care Assistance Program
Employees may pay for eligible dependent care expenses on a before-tax basis so that employee and spouse can work, look for work, or attend school full-time. Certain dependent definitions and IRS regulations may also apply.
Health Flexible Spending Account
Employees may pay for eligible non-reimbursed health care expenses with pretax dollars, which may result both in lower taxes and more spendable income.
Intel's major U.S. campuses have on-site facilities that offer recreational opportunities such as basketball, volleyball, jogging, aerobics, and other activities. Specific recreational offerings vary from site to site.
Updated January 17, 2014