Google will cut annual bonuses for top managers to reduce costs. The measure will affect senior vice presidents and top executives. The reduction in bonuses was the result of a “strategic management error” in terms of over-hiring in recent years.
The reduction of bonuses to Google’s top managers based on the results of work in 2022 was announced by the CEO of the corporation, Sundar Pichai.
The reduction in bonuses will be “very significant” and will affect senior vice president positions going forward, Pichai said. The head of Google did not provide exact data on the reduction in premiums.
As in many large corporations, annual bonuses for top managers are a significant addition to their regular salaries. At Google, for example, the vice president receives about $550,000 (about 41.2 million rubles) a year.
The head of Google pointed out that the reduction in bonuses was due to a “strategic error by management”, which in recent years has hired an excessive number of employees.
Last week, Google announced the layoff of 12,000 employees, which is 6% of the state. The company took such measures to reduce costs.
Author:
Kirill Bilyk
Source: RB
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