Active Stocks
Thu Mar 28 2024 15:59:33
  1. Tata Steel share price
  2. 155.90 2.00%
  1. ICICI Bank share price
  2. 1,095.75 1.08%
  1. HDFC Bank share price
  2. 1,448.20 0.52%
  1. ITC share price
  2. 428.55 0.13%
  1. Power Grid Corporation Of India share price
  2. 277.05 2.21%
Business News/ News / World/  After 12,000 layoffs in Google, Sundar Pichai may take massive pay cut: Report
BackBack

After 12,000 layoffs in Google, Sundar Pichai may take massive pay cut: Report

He even said in a recent town hall meeting to the Google staff that all roles above ‘senior vice president’ level will witness a significant reduction in their annual bonus.

Google CEO Sundar Pichai. (REUTERS)Premium
Google CEO Sundar Pichai. (REUTERS)

Days after cutting 12,000 jobs across verticals, reports appeared that Google CEO Sundar Pichai is all set to take a large chunk of his salary cut amid tough macro-economic conditions and layoffs.

He even said in a recent town hall meeting to the Google staff that all roles above "senior vice president" level will witness a significant reduction in their annual bonus, reported India Today.

"All roles above the senior vice president level will witness ‘very significant’ reduction in their annual bonus. For senior roles, the compensation is linked to company performance," the news website quoted Pichai reportedly as saying.

ALSO READ: ‘I did not expect it…': Google HR laid off abruptly while interviewing candidate

Though he didn't mention that he will take a pay cut, however, he also didn't clear on the percentage of salary that will be cut and for how long.

Earlier, Pichai received a massive hike in salary few weeks before Google announced layoffs. Recognising Pichai’s "strong performance" as CEO, Google’s parent company Alphabet had raised Pichai's salary.

As per details, Pichai was given two tranches of PSUs with a target value of $63 million each and $84 million in the form of Alphabet's restricted stock units, added the news website.

According to IIFL Hurun India Rich List 2022, Pichai's net worth fell 20 per cent to 5,300 crore, but he still ranks amongst the top richest professional managers.

Earlier, 12,000 employees were laid off and many of them were not prepared. Pichai had claimed that layoffs were not random.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Published: 29 Jan 2023, 05:17 PM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App