Google recently announced the biggest layoff in the company’s history. The company had said that it is going to lay off 12,000 employees. After this announcement, Google CEO Sundar Pichai defended this layoff.
Pichai said in the town hall meeting that he has taken this decision after discussing with the founders and shareholders of the company. During this, Pichai also indicated a cut in the salary of all top executives. Along with this, he said that the annual bonus of all the senior vice presidents of the company will also be cut.
He said that the more senior you are, the more your bonus is linked to your performance. If your performance is not good then you can reduce your equity grant. However, this has not been officially confirmed yet. But it is clear that along with Pichai, the salary of all the senior officers of the company is also going to be cut.
Before the retrenchment in the company, Google had decided to give 80 percent bonus in January. Along with this, the remaining bonus can be given in March and April. In earlier years, the company had given the entire bonus in January itself.
According to Google’s Chief People Officer Fiona Sisosi, about 750 senior Google executives were involved in the decision of this layoff process. He said that it took a few weeks to decide how many employees would be laid off from the company.