Sundar Pichai himself is likely to see a reduction in salary, as his compensation is closely linked to the company’s performance.
New Delhi: Google CEO Sundar Pichai has reportedly announced, in a recent town hall meeting with the employees, that all roles above the senior vice president level will see a significant reduction in their annual bonus. Notably, Pichai did not mention the percentage of salary that will be deducted.
According to a Times Now report, Pichai himself is likely to see a reduction in salary, as his compensation is closely linked to the company’s performance.
Earlier, the American tech giant had announced that the company is laying off approximately 12,000 employees. Pichai announced the cuts in an email to the staff on Friday and in a blog post. In his blog post, Pichai said the layoffs marked a moment for the company to “sharpen our focus, re-engineer our cost base, and direct our talent and capital to our highest priorities.” The CEO noted that Artificial Intelligence (AI) would be a key area going forward.
“I am confident about the huge opportunity in front of us thanks to the strength of our mission, the value of our products and services, and our early investments in AI,” said Pichai. “To fully capture it, we’ll need to make tough choices.”
The job losses constitute around 6 percent of Google’s global workforce, compared to recent layoffs at Microsoft (10,000 jobs or 5 percent of the workforce), Amazon (18,000 jobs / 6 percent), and Meta (11,000 / 13 percent).
$(document).ready(function(){ $('#commentbtn').on("click",function(){ (function(d, s, id) { var js, fjs = d.getElementsByTagName(s)[0]; if (d.getElementById(id)) return; js = d.createElement(s); js.id = id; js.src = "//connect.facebook.net/en_US/all.js#xfbml=1&appId=178196885542208"; fjs.parentNode.insertBefore(js, fjs); }(document, 'script', 'facebook-jssdk'));
$(".cmntbox").toggle(); }); });
Stay connected with us on social media platform for instant update click here to join our Twitter, & Facebook
We are now on Telegram. Click here to join our channel (@TechiUpdate) and stay updated with the latest Technology headlines.
For all the latest Business News Click Here