Employees Google express anger at $226 million pay package received by CEO Sundar Pichai after the company laid off 12,000 employees and took other cost-cutting measures. Since Pichai’s annual compensation was revealed, Google’s internal platforms have been filled with talk and memes criticizing the CEO for raising his pay while cutting costs elsewhere, according to a CNBC report.

The article claims that memes shared by employees within the company also criticize Google owner Alphabet’s recent approval of a $70 billion share buyback program, the same as last year. Pichai is the CEO of Alphabet and Google.

According to CNBC, “A popular meme featured an image of Shrek’s character, Lord Farquaad, with the text “Sundar accepts $226 million laying off 12,000 Google employees, cutting benefits and destroying morality and culture.”He also included a Farquaad quote: “Some of you may die but this is the sacrifice I’m willing to make“.

The median salary for Alphabet employees in 2022 was $279,000. While Alphabet is listing $226 million in compensation to Pichai in 2022, most of it will be awarded over three years and the amount is subject to change. The total amount is less than the three-year bonus he received in the previous three-year period.

One of the memes with over 700 likes read: “$70 billion share buyback shows we respect outside shareholders more than Google employees“according to CNBC. There were also memes”comparing Pichai to Apple CEO Tim Cook, who cut more than 40% of his total compensation for 2022 in January.“.

Cook demanded a pay cut, which brought his compensation down to $49 million in 2023. In 2022, Cook’s target compensation was $84 million, but he ended up with $99.4 million.

CNBC said it saw several memes posted on Google’s internal discussion forums, including one “with over 1.2 thousand likes [que] cited comments by chief financial officer Ruth Porat, who wrote in a rare corporate email last month that the company was cutting employee services “for several years.”“.

“Ruth’s cost cuts apply to everyone… except our hard workers and the CEO.says the meme, according to CNBC. Porat’s announced spending cuts are reportedly aimed at office supplies, laptop replacements, fitness classes, eateries, cafes and more.

conflicting views

After Google announced it was laying off 12,000 people in January, Pichai reportedly said in a meeting with employees that Google executives would “a very significant reduction in your annual bonus“. In an email to employees, the CEO wrote that “I take full responsibility for the decisions that brought us here.“, stating that over the past two years the company “hired for an economic reality different from the one we face today“. At the end of 2022, Alphabet had 190,234 employees.

In the first quarter of 2023, Alphabet reported $69.8 billion in revenue and $15.1 billion in net income, beating analysts’ expectations.

This isn’t the first time Pichai’s compensation has been controversial. The New York Times reported in 2019 that the company had paid $90 million in severance pay to executives accused of sexual harassment. At the time, critics wondered why Pichai was rewarded with a pay rise after the company was rocked by the scandal.

Some Google employees are now urging the company to prioritize the well-being of employees rather than reward executives with high salaries and bonuses. As a result, the company may be under pressure to increase transparency about executive compensation and take steps to ensure that the corporate culture is maintained in the face of cost cuts.

Mundo Conectado Deal Center: Selection of Discounts and Lowest Prices
Best deals on electronics, cell phones, TVs, soundbars, drones and more

Source: CNNBC.

…..