Google is reportedly taking measures to adjust salaries of executives as the inflation rate in the US touched roughly 7 percent, the highest since 1990. According to CNBC that accessed an internal memo and an audio file of a meeting, Google is planning to increase pay competitively, but it won’t be uniform across the US to match the rising inflation that essentially translates into oil and groceries becoming more expensive. Google‘s special meeting took place to discuss the company’s strategy for 2022, the publication notes.
The audio file reportedly pointed to CEO Sundar Pichai asking, “With the US inflation rates being as high as 7 percent, some companies are doing blanket salary adjustment to cover just the inflation. Is there any plans for Google to do the same thing?” To this, Google’s vice president of compensation, Frank Wagner responded by saying that top managers would be releasing a letter to managers, highlighting compensation awards for next year. The letter would also highlight the company’s measures to adjust salaries amid the rising inflation. As per CNBC, Wagner clarified that should pay rates go up, Google doesn’t want to give “smaller increments to everybody” but instead compensate based on performance.
In a response to the publication, Google spokesperson echoed Wagner’s measures and added, “We don’t have any plans to do any type of across-the-board type adjustment.”
Earlier this month, Google announced that it is delaying the January return-to-office plan globally as the new Omicron variant of coronavirus is on the rise. Earlier, the software giant had decided to open offices for three days a week from January 10 onwards. Google modified its decision after hundreds of workers protested against the company’s vaccination mandate for those working on US government contracts. In India, 38 cases of Omicron variant have been detected so far.
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