Sundar Pichai could take a salary cut as Google moves to cost-cutting

Sundar Pichai, CEO of Google's parent company Alphabet, will reportedly take a pay cut. The news comes close on the heels of tech giants Google, Microsoft, Amazon and IBM announcing massive job cuts, as the sector downsizes following a period of firm growth during the COVID era.

Sundar Pichai said top Google executives will take pay cuts this year as part of the firm's cost cutting measures. “All roles above the senior vice president level will witness ‘very significant’ reduction in their annual bonus. For senior roles, the compensation is linked to company performance,” Business Insider quoted Pichai as saying in a report.

However, the magnitude of the reduction in Sundar Pichai's own salary could not be immediately ascertained. 

Pichai spoke at "a tense town-hall meeting with employees" to address the largest round of layoffs in the company's history, according to the report.

The job cuts are not limited to technology companies, even American companies from other domains, such as banking major Goldman Sachs and cryptocurrency exchange Coinbase, have announced reduction in their workforces. A slew of Indian companies, including food delivery firms Zomato and Swiggy, and cab-hailing app Ola, are also reported to have joined the wave of layoffs.