Google, known for its lucrative compensation packages and employee perks, is now under scrutiny as reports emerge of reductions in overall pay for some of its workforce. Google spokesperson Tamani Jayasinghe has defended the company’s actions, stating that adjustments in equity awards aim to align with the pace of growth and competitive rates across various locations.
Amidst the annual ritual of performance reviews and pay adjustments, Google employees received a shock this year as they discovered smaller-than-expected pay bumps, with some even experiencing a decrease in their overall compensation. The reduction in compensation packages, comprising base salary, bonuses, and equity grants, has sparked concern and disappointment among employees, many of whom had anticipated substantial raises based on past years’ trends.
Reports indicate that even employees with satisfactory or outstanding performance ratings have not been spared from the impact of these reductions. Some have observed base pay increases as low as under 3 per cent, a far cry from the higher raises of 8 per cent to 10 per cent seen in previous years. Managers, too, have noted constraints in their ability to make adjustments, with smaller budgets allocated for compensation distributions compared to previous years.
Google spokesperson Tamani Jayasinghe has defended the company’s actions, stating that adjustments in equity awards aim to align with the pace of growth and competitive rates across various locations. While Jayasinghe assures that salaries will increase for most Googlers, employees have expressed disappointment over the significantly smaller compensation amounts they’ve received this year.
“Similar to last year, the vast majority of Googlers will receive a compensation increase this year — which includes a salary increase, equity grant, and a full bonus. We continue to offer extremely competitive pay across salary, equity, leave, and a broader suite of benefits,” Jayasinghe said.
