5.5 C

After mass layoffs, CEO Sundar Pichai to take salary cut


During a recent town hall meeting, Alphabet CEO Sundar Pichai revealed plans for a significant reduction in annual bonuses for all positions above the senior vice president level within the company. While specifics regarding Pichai’s salary adjustment were not explicitly mentioned, it is anticipated that he will also experience a reduction in compensation, given that his earnings are closely tied to the overall performance of the company.
This announcement comes on the heels of Google’s decision to downsize its workforce by laying off 12,000 employees in the United States. It is anticipated that these layoffs will extend to other markets, including India, in the coming weeks. The company has faced challenging economic conditions, prompting these measures to streamline operations and mitigate financial strain.
Pichai emphasized that the layoffs were conducted based on performance evaluations rather than arbitrary decisions, reflecting the company’s commitment to maintaining operational efficiency and resilience during turbulent times.

Subscribe to our magazine

━ more like this

Third of global economy will be in recession this year: IMF

IMF Managing Director Kristalina Georgieva has issued a stark warning, predicting that a third of the global economy will slip into recession in the...

Goldman Sachs to cut about 3,200 jobs after cost review

According to reports from undisclosed sources, Goldman Sachs Group is set to commence a significant round of layoffs across the company this week in...

Global aviation organisation ICAO rejects Spicejet’s audit story

New Delhi: Following SpiceJet's recent claim regarding the strength of its safety processes after an audit by the International Civil Aviation Organisation (ICAO), the...

US announces fusion tech clean energy breakthrough for warming world

New York: The United States has unveiled a groundbreaking achievement in clean energy technology, heralding a potential transformation in global power generation. The breakthrough...