Google Employees See Pay Cuts and Smaller Raises Amid Cost-Cutting Efforts
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Google employees received smaller pay bumps and compensation packages this year compared to previous years, with some seeing reductions in overall pay.
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Base salary increases were lower than 3% for many employees, whereas previous years saw 8-10% increases. Even some with "outstanding" performance ratings saw total compensation drop.
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Managers had a smaller budget for pay adjustments this year.
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Google is adjusting equity awards to reflect slower company growth and competitive rates in different locations, according to a spokesperson.
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The compensation changes come amid broader cost-cutting efforts and layoffs at Google as it tightens its belt. Morale is low.