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Layoffs News: Due to the recession all over the world, many giant companies like Microsoft, Google, Meta, Amazon, Twitter etc. have done many phase layoffs. In this, the jobs of thousands of employees have been affected. Where on one hand companies are cutting costs by continuously retrenchment of employees, on the other hand they are giving big money as bonus to their top executives. According to the report of Entrepreneur, Meta CEO Mark Zuckerberg has faced criticism from his own employees. On the one hand, the employees have raised questions on continuous retrenchment of employees in the name of cost reduction and on the other hand giving 6 figure bonus to the top employees.
Million dollar bonus to top executives
According to the information given by Meta to the US Security and Exchange Commission (SEC), the company has given $ 5,75,613 i.e. about Rs 4.71 crore as bonus to Meta’s executive officers like Susan Lee. At the same time, Chief Product Officer Chris Cox has been given $ 9,40,214 i.e. Rs 7.5 crore as bonus. On the other hand, the company has given a bonus of $ 7,12,284 i.e. Rs 5.71 crore to Chief Operating Officer Xavier Olivan, Chief Tech Officer Andrew Bosworth, Strategy Officer (CSO) David Weiner. At the same time, the company has given a bonus of Rs 2,98,385 i.e. Rs 2.39 crore to the former COO.
Will the accountability of the officers not be fixed?
According to a Wall Street General report, an employee asked Zuckerberg how Meta’s entire top executive team got a good rating when the company has laid off more than 20 percent of its workforce. Will no accountability be fixed for the retrenchment of these officers? It is worth noting that in Meta, bonus is announced to top officials on more than 75 percent performance.
Google CEO got this much bonus
Sundar Pichai, CEO of Google’s parent company Alphabet (Google CEO Sundar Pichai) has earned a lot last year. According to the information given in the US Security and Exchange Commission, the salary of Google CEO Sundar Pichai increased to $ 226 million i.e. Rs 1,854 crore last year. In such a situation, this salary is about 800 times the salary of a normal employee. Significantly, Google’s parent company had announced the removal of 12 thousand employees during this period. Along with this, the company has also cut the bonus of the employees for cost cutting. Along with this, the top 5 executives of Google have been given crores of rupees as bonus in the year 2022.
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