The CEO of the IT giant has announced a “very significant” reduction in the yearly bonus for all positions beyond the senior vice president level.
During a meeting on Monday to discuss the “biggest” round of layoffs in the history of the internet giant, CEO Sundar Pichai announced that top executives at Google will be subject to salary cuts this year as part of the company’s cost-cutting measures.
“The annual bonus for all positions above the senior vice president level will be reduced’very significantly. According to Pichai, the pay for senior positions is based on the success of the company, according to Business Insider.
However, it’s not immediately apparent how much of a compensation cut the Indian-born executive will receive.A number of newspapers also contacted the Mountain View-based company for comment, but they received none.
Meanwhile, Pichai’s declaration of a salary drop for senior executives comes days after that of his Apple counterpart, Tim Cook, who said that Cook will accept a 40% lower remuneration in response to shareholder pressure. Then, JPMorgan Chase said this week that it is eliminating the “special award” portion of CEO Jamie Dimon’s pay.
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