Google can pay high execs $1 million every after declining to spice up employees’ pay

Google is giving 4 of its high execs a major pay bump, elevating their salaries from $650,000 to $1 million, simply weeks after the corporate instructed staffers it wouldn’t mechanically regulate salaries to account for inflation. The new govt salaries had been disclosed in an SEC filing.

The executives receiving the $1 million base salaries are chief monetary officer Ruth Porat, senior vp Prabhakar Raghavan (who’s in command of Google search); senior vp and chief enterprise officer Philipp Schindler; and president of world affairs and chief authorized officer Kent Walker. All 4 executives are eligible to “participate in a maximum $2,000,000 annual bonus program, based on contributions to Google’s performance against social and environmental goals for 2022,” in accordance with the submitting. Each particular person has additionally been granted inventory awards with goal values within the thousands and thousands of {dollars}.

Google has been very financially profitable as of late — it posted its fifth quarter in a row of document income in October. But in distinction to giving the 4 execs enormous pay raises, Google’s vp of compensation instructed employees at an all-hands in December that the corporate doesn’t plan to make broad wage changes to account for the rising inflation rate in the US.

The raises had been additionally given as Google is embroiled in a authorized battle with staff over fees that they had been illegally fired in 2019. The staff are planning to name one of many recipients of a brand new $1 million wage, Kent Walker, to testify as an adverse witness. Employees are additionally reportedly dissatisfied with the corporate’s seemingly completely different distant work insurance policies for higher-ups. In July, senior vp for technical infrastructure Urs Hölzle introduced he was transferring to New Zealand, which two staff told CNET was emblematic of a double commonplace for executives.