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| Google raises the salaries of senior officials to one million dollars |
Weeks after Google announced to employees that it would not automatically adjust salaries for inflation, Google dramatically increased the salaries of four CEOs, cutting their salaries from $650,000 to $1 million.
The new salaries of these executives were disclosed in documents filed with the Securities and Exchange Commission.
According to the document, the Alphabet Board of Directors' Leadership Development and Compensation Committee approved a new compensation agreement for senior members of the 2022 management team on December 28, 2021.
These leaders include Ruth Porat, Prabhakar Raghavan, Philip Schindler and Kent Walker. Her base salary is set to drop from $650,000 to $1 million by January 2022.
In addition, they can participate in an annual loyalty program of up to $2 million based on Google's contribution to achieving social and environmental goals in 2022. If the target performance is not met, the actual reward amount will be reduced.
The Board of Directors also approved the allocation of shares. Borat will receive a portion of PSU Performance Shares with a target value of $5 million and a portion of prohibited GSU shares of $18 million.
Raghavan to acquire part of an energy unit with a target value of $12 million. And part of the $23 million GSU.
Schindler received a power supply with a target value of $12 million. And part of the $23 million GSU.
At the same time, Kent Walker will deliver a portion of the Energy Source with a target value of US$5 million. And part of the $18 million GSU.
This came after Google refused to raise the salaries of employees
The company has been a huge financial success recently, posting record profits for the fifth consecutive quarter in October.
However, in contrast to the big increase for the four CEOs, the company's vice president responsible for workers compensation told in December that the company had not made any major salary adjustments in response to rising inflation in the United States.
As the company deals with legal disputes with employees, wages have also increased. This is an illegal 2019 dismissal claim.
The task force plans to call Kent Walker, one of the million dollar new hires, to testify as a counter witness.
According to reports, employees are not satisfied with the company's remote work policy, which is different from older employees.
Urs Holzel, Senior Vice President of Technology Infrastructure, announced his move to New Zealand in July. Two employees said it was emblematic of the CEO's double standards.