Google slashed costs, but CEO still raised salary, causing strong dissatisfaction among employees_China IT News
Google CEO Sundar Pichai reportedly received a big raise last year, making him one of the highest-paid CEOs in the United States. Last week, Alphabet, the parent company of Google, announced that it was authorized to promote a stock repurchase plan of 70 billion U.S. dollars (IT House Note: currently about 483.7 billion yuan). But at the same time, Alphabet has been aggressively cutting costs, including cutting 12,000 jobs, in response to slowing revenue growth.
This series of measures has caused dissatisfaction among Google employees.In the weeks since Pichai’s annual salary was announced, there has been a lot of discussion on Google’s internal platforms, pointing to the fact that Pichai is still accepting a raise even as the company slashes costs.. Some employees also criticized the share buyback, which is about the size of 2022.
According to filings with the U.S. Securities and Exchange Commission (SEC),Pichai’s total compensation last year was $226 million(Currently about 1.562 billion yuan), most of which comes from stock incentives of 218 million US dollars. Pichai’s package also includes nearly $6 million in personal security services and $2 million in base compensation. In comparison, in 2021, Pichai’s total compensation package is $6.3 million, including $2 million in base compensation and $4.3 million in other compensation, but no stock incentives.
Some Google employees compared Pichai’s pay to that of other tech executives. In January, Apple CEO Tim Cook announced that his compensation would be cut by more than 40% from his 2022 target total compensation. Almost at the same time, after the company laid off 1,300 people, Yuan Zheng, CEO of Zoom, announced that he would cut his salary by 98% and cut his bonus. Twilio CEO Jeff Lawson (Jeff Lawson) said he would also accept a pay cut as the company cuts 17% of its workforce.
According to the news, there have been more than a dozen related discussions on Google’s intranet discussion board, many of which have received hundreds of likes. One post, which received more than 1,200 likes, included a statement from Alphabet Chief Financial Officer Ruth Porat. Last month, she wrote in a rare company-wide email that Alphabet was pushing ahead with cuts to employee services “that will last for years,” ranging from laptops for employees to gym fees and cafe meals.
“Porat’s cost reductions apply to all employees, except our hard-working VPs and CEO,” the line read.
Google has yet to respond to this.
This isn’t the first time Pichai has come under fire for his recent decisions. In January, Pichai said he took “full responsibility” for the circumstances that led to company-wide layoffs. Later, at the company’s all-hands meeting, employees asked Pichai why executives would get raises if he took responsibility. Pichai replied that senior vice presidents are “accepting a significant reduction in bonuses” and that he himself will forego his bonus.
Text on another popular image reads: “Sundar accepts $226 million while laying off 12,000 jobs, cutting benefits, destroying morale and culture.” Text on the other side reads: “Some of you may not live Go down, but it’s a sacrifice I’m willing to make.”
Pichai and money-related topics can be traced back to the end of last year. “We shouldn’t always equate fun with money,” he said at a company-wide meeting at the time, responding to why the company was eliminating certain employee benefits but dodging employees’ concerns about executive pay cuts. The problem.
Alphabet’s $70 billion share buyback program also frustrated employees, suggesting the company has enough cash to cover operating expenses and investments. “$70 billion in stock repurchases shows that we respect external shareholders more than Google employees,” read one post, which received more than 700 likes.