The Wall Street Journal: Google execs to get lower bonuses in cost-cutting move following layoffs

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Google Chief Executive Sundar Pichai said top executives would take pay cuts following the largest round of layoffs in the company’s history.

Speaking at a companywide meeting on Monday, Pichai said employees at the senior-vice president level and above would get lower bonuses as part of cost-cutting measures, according to people who heard the remarks. 

The comments came after Google’s parent company, Alphabet Inc. GOOG, +1.94% GOOGL, +1.81%,  announced last week that it would eliminate about 12,000 jobs, or 6% of staff, its first major layoff since 2009.

Tech employees often receive a large portion of their wages through bonuses and stock grants. Vice presidents at Google can make base salaries of more than $550,000 a year, according to a job posting from the company.

An expanded version of this report appears on WSJ.com.

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This article was originally published by Marketwatch.com. Read the original article here.

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