A quarter when large technology companies such as Google, Microsoft, Meta, and others have laid off staff in the thousands, the top brass is enjoying the perks of being the CEO of multi-billion-dollar firms. Sundar Pichai was reportedly said to have raked in millions, all the while trimming Google’s workforce.

New filing showed Sundar Pichar’s total compensation was about $226 million in 2022

New data published on Reuters revealed that with the included stock awards, the Google CEO made almost $230 million last year. The statistics reveal that the amount is around 800 times the median employee’s salary, with the compensation likely angering those who were forced to find another job as Google laid off around 12,000 of its staff, which accounts for 6 percent of the advertising giant’s total workforce.

Pichai announced the layoffs on January 20 this year and was likely anticipating that the headcount would be reduced due to a slowing global economy and other factors. Despite having this knowledge, Pichai garnered a handsome compensation when it was completely possible for him to pocket half the amount to provide some form of financial cushion and retain some employees at the company.

The report does not mention what the Google CEO’s compensation is for 2023, but Apple’s Chief Executive, Tim Cook, is said to be leading by example, taking a 40 percent pay cut this year while also reducing other expenditures and slowing down additional hires. Cook also stated during its last quarterly earnings that laying off employees would be viewed as a last resort, though the company did end up trimming corporate retail employees.

Unlike Google, Apple bucked the trend and managed to avoid a massive layoff round, which also included Tim Cook taking a 40 percent pay cut for 2023

One of the reasons Pichai was forced to lay off in the thousands was due to Google’s aggressive hiring spree during the pandemic, a decision that was followed by other technology giants such as Amazon, and Microsoft, which ultimately led to these two also laying off a large percentage of their workforce. Another reason why Google had little choice but to review its finances was because of the perks it offered employees, resulting in mounting expenses.

Considered one of the best places to work in the world, Google offered industry-leading benefits and office amenities such as food, fitness, massage, transportation, and other programs. Alongside the layoffs, Google also stopped issuing MacBook modelsto new recruits, giving the non-engineering team Chromebooks instead.

Additionally, office supplies such as staplers and new hardware purchases were restricted unless specified by the higher-ups. Pichai has not announced a new round of layoffs, but Google’s CEO might want to re-evaluate his compensation for this year, assuming it is not as ridiculous as the amount issued in 2022.

News Source: Reuters