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.