Google Chief Executive Sundar Pichai said top executives would take pay cuts following the largest round of layoffs in the company’s history. Speaking at a companywide meeting on Monday, Pichai said employees at the senior-vice president level and above would get lower bonuses as part of cost-cutting measures, according to people who heard the remarks.
The comments came after Google’s parent company, Alphabet Inc.
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announced last week that it would eliminate about 12,000 jobs, or 6% of staff, its first major layoff since 2009. Tech employees often receive a large portion of their wages through bonuses and stock grants. Vice presidents at Google can make base salaries of more than $550,000 a year, according to a job posting from the company. An expanded version of this report appears on WSJ.com. Also popular on WSJ.com: When it comes to marriage and money, opposites attract. Market recovery hinges on quick inflation drop.