Google CEO Sundar Pichai raked in $226M payday regardless of layoffs, cuts to employee perks
Alphabet CEO Sundar Pichai earned a whopping $226 million in complete compensation in 2022 – a windfall that got here even because the Google father or mother prepped sweeping layoffs and slashed lavish perks once enjoyed by employees.
Pichai, 50, raked in additional than $218 million within the type of inventory awards, in line with latest firm securities submitting. The Google boss additionally earned $2 million in base wage and practically $6 million in different compensation.
The submitting stated “different compensation” usually stems from the corporate’s retirement plans and “private use of firm plane. General, Pichai earned greater than 800 instances the median worker’s pay.
The large payday for Pichai and different advised Alphabet executives stood in stark distinction to a companywide belt-tightening effort as Google refocuses its enterprise on the race for superior synthetic intelligence expertise.
The Put up has reached out to Google for remark.
Below his pay plan, Pichai receives main inventory awards each three years. The newest payout marked the third time that Pichai has acquired a $200 million-plus award since he took over as Google’s prime govt.
Alphabet famous that the inventory bonus was chargeable for the pay disparity between Pichai and its median staff. The corporate stated the ratio was 21-to-1 in 2021 and 27-to-1 in 2020.
In January, Google laid off approximately 12,000 employees, or about 6% of its workforce, within the largest spherical of pink slips within the tech big’s historical past. Alphabet’s shares are down 14% during the last 12 months throughout an ongoing downturn within the tech sector.
As a part of the layoffs, Google eradicated positions for a minimum of 31 company-employed therapeutic massage therapists that labored in its California-based places of work. The corporate can also be stated to be requiring staff in its unprofitable Cloud division to share desks and alternate which days they come into the office.
The layoffs have sparked outrage amongst Google staff – with one ousted engineering supervisor grumbling earlier this yr that he discovered he misplaced his job via an “automated account deactivation at 3am” and that the corporate had treated him as “100% disposable.”
Google staff in New York, California, London and different locales have staged protests over upper management’s handling of the layoffs.
As The Put up reported in March, executives additionally knowledgeable Google staff of plans to shut among the firm’s vaunted “micro-kitchens,” that are stocked with free drinks and snacks, and to close down on-campus cafeterias with decrease foot visitors.
Google brass additionally stated they’d dial again spending on company-provided tools equivalent to private laptops as a part of “adjustments to what’s out there and the way typically it’s changed.”
“We need to be upfront that there are additionally areas the place we’ll understand financial savings that can affect some companies Googlers use at work and past,” the Google executives stated in a March 31 memo.
“We set a excessive bar for industry-leading perks, advantages and workplace facilities, and can proceed that into the long run. Nonetheless, some packages have to evolve for the way Google works right this moment,” the memo added.