Per CNBC
Google employees voice complaints over the $226 million 2022 pay of CEO Sundar Pichai while the rest of the company experienced cost cuts
5/11/2023
Google employees are now voicing their concerns and complaints about how the company's CEO, Sundar Pichai, received massive pay while, in contrast, the rest of the company experienced cost cuts. Pichai took home $226 million in 2022 while the company experienced massive layoffs.
Because of his pay, Pichai is now considered one of the highest-paid CEOs in America. Per an SEC filing, it was revealed that the Google CEO received $218 million of that $226 million in stock awards.
This meant that his 2022 package was $6 million for personal security and a base salary of $2 million. This increased from the 2021 numbers when Pichai received $6.3 million, which consisted of $4.3 million in other compensations and $2 million as a base salary.
The last time the CEO received an award was in 2019 when he received $280.6 million in total compensation with an award of $276.6 million. However, the Google CEO was compared to Tim Cook of Apple, who received a 40% cut from his 2022 target total compensation.
Other CEOs, like Zoom's Eric Yuan, said that he would be taking a 98% decrease in salary and that he would not take a bonus after 1,300 jobs were cut from the company. Aside from Sundar Pichai's salary and compensation, Google announced a plan to repurchase $70 billion in stock, which added to the frustration of employees.
Alphabet employees have signed a petition for demands that Sundar Pichai would have a better layoff process. The demands by the employees included freezing hires, going through voluntary redundancies, and prioritizing laid-off workers for new job vacancies.
Google, along with Amazon, experienced hardship in letting go of workers in Europe because of their strict labor laws. The companies are trying to implement voluntary departures to reduce headcount.
See flow at unusualwhales.com/flow.
Other News:
- Alphabet (Google's parent company) employees signed a petition for demands to CEO Pichai for a better layoff process
- Google and Amazon experience hardship in letting go of workers in Europe due to labor laws
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