According to the latest report, SEC documents disclosed that just a few weeks after Google told employees that it would not automatically adjust wages to cope with inflation, the company offered a substantial salary increase to its four executives. Increasing their salary from 650,000 U.S. dollars to 1 million U.S. dollars.
The executives who received a base salary of $1 million were Chief Financial Officer Ruth Porat, Senior Vice President Prabhakar Raghavan (in charge of Google Search); Senior Vice President and Chief Commercial Officer Philipp Schindler, and President of Global Affairs and Chief Legal Officer Kent Walker.
According to the document, all four executives are eligible to participate in an annual bonus plan of up to US$2 million, depending on their contribution to Google’s performance in 2022’s social and environmental goals. Each of them also received a target value of hundreds of Ten thousand dollars in stock awards.
IT Home understands that Google has been very successful financially recently-it achieved record profits for the fifth consecutive quarter in October. However, unlike the substantial salary increase for the four executives, Google’s vice president in charge of compensation told employees at the all-hands meeting in December 2021 that the company does not intend to make extensive compensation adjustments to cope with rising inflation in the United States.