Do you work at Google? You Might Not Get a Raise, Here’s Why | Companies News
New Delhi: A senior Google executive said the tech giant will not automatically adjust the salaries of all employees for inflation.
According to a CNBC report, Google vice president of compensation Frank Wagner told employees in a meeting that the company “does not plan to make any general type adjustment” when it is called upon. asked about the inflation rate in the US.
Alphabet and Google CEO Sundar Pichai asked at the meeting, “With inflation rates in the United States reaching 7%, some companies are making general wage adjustments to cover inflation only. Is Google planning to do the same? “
Wagner replied: “Inflation seems to be a priority for a lot of people, and I think one of the reasons is that people are quite anxious to get their compensation.”
However, Google “will not introduce company-wide adjustments for inflation.”
“We do not intend to make any general type of adjustment,” he said in Friday’s report.
In a statement, a spokesperson for the company said, “Employees receive bonuses and equity as part of their total compensation, which also includes generous benefits and flexibility.”
Google’s parent company Alphabet has more than 150,000 full-time employees worldwide and has seen both revenue and inventory skyrocket over the past year. Also Read: Mutual Fund Calculator: Here’s How To Become A Crorepati By Investing Rs 10,000 Per Month In SIP
Alphabet announced its fifth consecutive quarter of record profits ($ 18.9 billion) and its second consecutive quarter of record revenues ($ 65.1 billion) in October. To read also: Locking the Facebook account? Meta may soon allow you to troubleshoot issues with live chat support