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Google Chief Executive Sundar Pichai said top executives would take pay cuts following the largest round of layoffs in the company’s history.
Speaking at a companywide meeting on Monday, Mr. Pichai said employees at the senior-vice president level and above would get lower bonuses as part of cost-cutting measures, according to people who heard the remarks.
The comments came after Google’s parent company, Alphabet Inc., GOOG -1.43%decrease; red down pointing triangle announced last week that it would eliminate about 12,000 jobs, or 6% of staff, its first major layoff since 2009.
Tech employees often receive a large portion of their wages through bonuses and stock grants. Vice presidents at Google can make base salaries of more than $550,000 a year, according to a job posting from the company.
In recent days, Google employees have pressed Mr. Pichai and other executives about the rationale behind the layoffs and other potential consequences for top leadership. Mr. Pichai said on Friday that he took responsibility for the decisions that led to the job cuts.
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“Over the past two years we’ve seen periods of dramatic growth,” Mr. Pichai wrote in a message to employees. “To match and fuel that growth, we hired for a different economic reality than the one we face today.” |
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