INTEL'S 3,000 staff at the company's Leixlip plant are to get an average bonus of £1,275 following the company's record seventh profit making year in a row.
The bonus, which will be paid on January 23rd, comes on top of the £600 "thank you" bonus for staff, which was announced with yesterday's results.
Intel reported strong results for last year with earnings rising by 44 per cent to £3.2 billion, from £1.97 billion in 1995.
Last year employees received other bonuses based on the company's performance in the first six months of 1996. The latest bonus payments bring to 26.9 days, the equivalent of about 10 per cent, the additional pay which employees will receive.
Employees will also be entitled to another bonus, which will be paid on February 6th. This is known as the Employee Bonus. Although still being computed, it will be 4-6 times 1 per cent of basic pay and can be taken in cash or shares. Around 20-25 per cent of Intel's Irish employees choose stock options.
Employees are also set to benefit from a further profit sharing plan, linked to the company's performance. Known as the pension's plus plan, Intel will make a contribution of up to 8 per cent to employee pension funds.
In a statement, Mr Frank McCabe, vice president of Intel Corporation and general manager, Intel Ireland, said the company's outstanding year would not have been possible without the remarkable efforts of Intel employees.
