Google to delay portion of staff bonus
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Google will pay 80 per cent of the advance bonus to eligible employees initially and the remainder in later months.
PHOTO: REUTERS
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Bengaluru, India – Alphabet’s Google is deferring a portion of its employees’ year-end bonuses as part of a transition to a new performance management system, the search engine giant said on Thursday.
The company will pay 80 per cent of the advance bonus to eligible employees initially and the remainder in later months, a spokesman told Reuters, adding that the move was communicated to staff in 2022.
The development comes amid technology companies’ attempts to limit spending amid a broader slowdown in demand and deteriorating economic conditions.
Alphabet has so far announced cuts affecting more than 200 employees in its health sciences division even as its megacap peers Amazon.com, Meta Platforms and Microsoft have let go of thousands of employees.
The advance bonus will be paid in January and the remaining 20 per cent in March or April, helping Google spread out costs to the next quarter, according to CNBC, which first reported the story. From 2023, all bonuses will be paid in March, the report added.
Google typically paid full bonuses in the first month of the year. REUTERS
