Days after cutting 12,000 jobs across verticals, reports emerged that Google CEO Sundar Pichai is set to take a major chunk of his pay cut amid tough macro-economic conditions and layoffs.
He told Google employees at a recent town hall meeting that all roles above the “senior vice president” level would witness a significant reduction in their annual bonuses, reported india today,
The news website quoted Pichai as saying, “All roles above the senior vice president level will see a ‘very significant’ reduction in their annual bonuses. For senior roles, compensation is linked to company performance.”
Read also: ‘I didn’t expect this…’: Google HR suddenly crashes while interviewing a candidate
Though he did not mention that he would be taking a pay cut, however, he also did not specify by what percentage of the salary and for how long.
Earlier, a few weeks before Google announced the layoffs, Pichai had received a huge pay hike. Recognizing Pichai’s “strong performance” as CEO, Google’s parent company Alphabet raised Pichai’s salary.
As per the details, Pichai was given two tranches of PSUs with a target price of $63 million each and $84 million in the form of restricted stock units of Alphabet, added the news website.
According to IIFL Hurun India Rich List 2022, Pichai’s net worth dropped by 20 percent. 5,300 crores, but he still ranks among the top richest professional managers.
Earlier, 12,000 employees were laid off and many of them were not prepared. Pichai had claimed that the layoffs were not accidental.
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