• Send Us A Tip
  • Calling all Tech Writers
  • Advertise
Sunday, June 15, 2025
  • Login
  • Register
TechStory
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
TechStory
No Result
View All Result
Home Tech

Why is Sundar Pichai, the CEO of Google, accepting a lower salary this year?

by Sneha Singh
January 26, 2023
in Tech
Reading Time: 2 mins read
0
Google
TwitterWhatsappLinkedin

Only recently were tech companies at their prime. There was employment everywhere you turned, and tech company stocks were doing fantastically. That is until a significant stock market decline and a wave of layoffs took over the IT industry. It affected even supposedly strong giants like Meta, Amazon, Microsoft, and Google as of last week.

You might also like

Bengaluru Rises to 14th Place in Global Startup Ecosystem Report 2025

Larry Ellison Surges to World’s Second Richest, Overtaking Jeff Bezos and Mark Zuckerberg

Viewers Face Longer Waits as YouTube Rolls Out More Unskippable Ads

Last week, Alphabet, the parent company of Google, said it would eliminate 12,000 positions throughout the organization. Many employees were shocked by the announcement, and some resorted to social media to complain about how “random” the process was and how they felt “100% disposable.”
The announcement comes amid economic unpredictability and turmoil for all digital companies. According to Layoffs.fyi, a website that tracks layoffs, 174 IT businesses have already cut close to 60,000 jobs in 2023.

CEO of Google announced a pay cut this year

Sundar Pichai, the CEO of Google, addressed the whole workforce on Monday in a meeting to address issues accumulated over the weekend. He also revealed that top executives would receive a pay cut this year as part of the business’s cost-cutting initiatives, according to Business Insider.
All positions above the senior vice president level will see a “very significant reduction in their annual bonus,” according to Pichai, who also noted that compensation was based on company performance for senior roles. How much of a pay cut Pichai will receive is just now known. Google did not respond to Fortune’s request for comment right away.

12,000 Google employees lose jobs: CEO Sundar Pichai reveals reason behind  massive layoffs

A few weeks before Pichai’s decision, Apple’s Tim Cook stated that his compensation would be 40% lower due to shareholder pressure. The iPhone manufacturer had a successful year in 2022. Moreover it is one of the few tech goliaths that hasn’t yet disclosed layoffs.

The board of JP Morgan Chase which is also an investment bank. It  declared last week that it would eliminate the “special award” component of CEO Jamie Dimon’s compensation. Dimon received a one-time payout of about $50 million the year before, and this year he will receive $34.5 million.

Employees were informed through mail

“The decision to cut 12,000 jobs is a step in the right direction, but it does not even reverse the strong headcount growth of 2022. Ultimately, the management will need to go further… The management should aim to reduce headcount to around 150,000, which is in line with Alphabet’s headcount at the end of 2021. This would require a total headcount reduction of 20 percent.”

The 12,000 impacted employees and techies were caught off guard by Google’s decision to fire them. They are currently using social media to criticize a choice made by one of Silicon Valley’s tech giants. In a communication to staff members, Google CEO Sundar Pichai expressed regret for the action. Adding to it he accepted full responsibility for the decisions that brought the firm to this point.

On January 20, Pichai sent an email to Google staffers informing them of some distressing news. He asserted that the company has decided to cut 12,000 jobs from its staff.

Tags: amazonCEO of GoggleMetaSundar Pichai
Tweet54SendShare15
Previous Post

What is a T+1 Settlement Cycle? And why India adopting it is a Big Deal for the Global Stock Markets.

Next Post

If Donald Trump abides by these guidelines, Facebook won’t once again block him

Sneha Singh

Sneha is a skilled writer with a passion for uncovering the latest stories and breaking news. She has written for a variety of publications, covering topics ranging from politics and business to entertainment and sports.

Recommended For You

Bengaluru Rises to 14th Place in Global Startup Ecosystem Report 2025

by Rounak Majumdar
June 15, 2025
0
Bengaluru Rises to 14th Place in Global Startup Ecosystem Report 2025

Bengaluru, India’s renowned tech capital, has made an impressive leap in the Global Startup Ecosystem Report (GSER) 2025, climbing seven spots to secure the 14th position worldwide. This...

Read more

Larry Ellison Surges to World’s Second Richest, Overtaking Jeff Bezos and Mark Zuckerberg

by Rounak Majumdar
June 15, 2025
0
Larry Ellison Surges to World’s Second Richest, Overtaking Jeff Bezos and Mark Zuckerberg

Larry Ellison, the co-founder and chairman of Oracle Corporation, has made global headlines by becoming the world’s second richest person, surpassing tech titans Jeff Bezos and Mark Zuckerberg....

Read more

Viewers Face Longer Waits as YouTube Rolls Out More Unskippable Ads

by Sneha Singh
June 15, 2025
0
Viewers Face Longer Waits as YouTube Rolls Out More Unskippable Ads

YouTube watchers, prepare to wait a little longer before your favorite videos begin playing. The Google-owned site is experimenting with a new ad format that may make your...

Read more
Next Post
Trump

If Donald Trump abides by these guidelines, Facebook won't once again block him

Please login to join discussion

Techstory

Tech and Business News from around the world. Follow along for latest in the world of Tech, AI, Crypto, EVs, Business Personalities and more.
reach us at [email protected]

Advertise With Us

Reach out at - [email protected]

BROWSE BY TAG

#Crypto #howto 2024 acquisition AI amazon Apple bitcoin Business China cryptocurrency e-commerce electric vehicles Elon Musk Ethereum facebook flipkart funding Gaming Google India Instagram Investment ios iPhone IPO Market Markets Meta Microsoft News NFT samsung Social Media SpaceX startup startups tech technology Tesla TikTok trend trending twitter US

© 2024 Techstory.in

No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to

© 2024 Techstory.in

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?