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

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Days after cutting 12,000 jobs across all verticals, reports surfaced that Google CEO Sundar Pichai is set to take a big chunk of his pay cut amid tough macroeconomic conditions and layoffs.

He even told a recent Google staff town hall meeting that all positions above the “senior vice president” level will see a significant reduction in their annual bonus, he reported. India today.

“All positions above the senior vice president level will see a ‘very significant’ reduction in their annual bonus. For senior positions, compensation is tied to company performance,” the news website quoted Pichai as saying. .

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Although he did not mention that he will take a pay cut, he also did not clarify the percentage of salary that will be cut and for how long.

Previously, Pichai received a massive pay raise just weeks before Google announced the layoffs. Recognizing Pichai’s “good performance” as CEO, Google’s parent company Alphabet increased Pichai’s salary.

According to the details, Pichai received two tranches of PSUs with a target value of $63 million each and $84 million in the form of Alphabet restricted stock units, the news website added.

According to IIFL Hurun India Rich List 2022, Pichai’s net worth fell 20 percent to $5,300 crores, but still among the richest top professional managers.

Previously, 12,000 employees were laid off, and many of them were unprepared. Pichai had claimed that the layoffs were not random.

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