Sundar Pichai, CEO of Alphabet and Google, will receive a total bonus of $ 226 million in 2022, many US media write. This is equivalent to NOK 2.36 billion.
Thus, Pichai is among the world’s best paid CEOs.
Most of the amount, $218 million, was given in stock bonuses, which he receives every three years.
Between 2020 and 2022, he was paid an annual salary of $2 million.
Pichai said earlier in January that the company’s top executives would get lower bonus plans, according to the Dow Jones news agency. This was a cost-cutting move in the wake of the companies recently undertaking the largest downsizing in the company’s history. In total, Alphabet has cut 12,000 jobs.
The same agency said that Google’s chief financial officer said last month that employees would have to wait for more cuts. The oil fund owns 0.98 percent of Alphabet shares and 0.56 percent of Google. This amounts, respectively, to 11.2 and about $2 billion in oil fund values.
Big discounts in the technology industry
Alphabet isn’t the only tech giant that has cut staff recently. So far this year, Amazon has said it will lay off 27,000 employees, while Microsoft has cut 10,000 jobs.
Among the major social media companies, Twitter cut staff by 70 percent after Elon Musk took over in October. Meta, the parent company of Facebook and Instagram, has also cut 21,000 jobs since November.
Many technology companies are now suffering from slowing growth, rising costs, and poor prospects. These are the same companies that experienced strong growth during the pandemic, and that have subsequently increased staffing exponentially. (conditions)Copyright Dagens Næringsliv AS and/or our suppliers. We’d like you to share our statuses using links that lead directly to our pages. Reproduction or other use of all or part of the Content may be made only with written permission or as permitted by law. For more terms see here.
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