12,000 workers before the huge salary increase of the head of Google
Google’s parent company Alphabet recently laid off 12,000 workers. Sundar Pichai, the company’s chief executive officer (CEO), announced the news of the dismissal in an emotional e-mail to the employees. Last December, happy with Pichai’s various decisions, Google increased his salary by a huge amount.
According to a report in India Today, Google CEO Sundar Pichai announced about 12,000 layoffs on January 20. He wrote an emotional letter to every worker taking full responsibility for the retrenchment. In that letter, Google’s CEO Sundar Pichai thanked the employees who worked hard for the development of the organization. Expressed grief to them.
Google owner, said that Google has laid off workers from different parts of the world. It has the most impact in America. In addition to the layoffs, Google has also promised to help those workers find new jobs. Google’s Retrenchment has been announced with 60 days’ notice. The retrenched employees will receive all dues including full salary for the period. In 2022, they will also get a bonus for work and the rest of the leave benefits.
Last December, Google announced that Sundar Pichai was performing ‘greatly’. His work is being recognized. He will be rewarded.
Google parent Alphabet Inc. said at the time that Sundar Pichai’s performance stock units (PSUs) were 43 percent in 2019. This time it will be increased to 60 percent as a reward.
The Google chief received equity compensation for three consecutive years. This time, Sundar Pichai received two $63 million target price shares and $84 million in Alphabet’s reserved stock units. Earlier in 2018, he refused equity compensation as his salary was fine.
Meanwhile, in early January, Sundar Pichai said in a town hall meeting with company officials that the annual bonus of all employees above the level of senior vice president will be significantly reduced.
The Google chief said, ‘The annual bonus of all employees above the level of senior vice president will be reduced significantly. The salary hike of senior officials will depend on the performance of the organization.’ But he did not mention direct salary cuts.