Google has told employees the company will not hike pay across the board to match to inflation: CNBC
Tech giant Google has told employees it does not intend to adjust salaries across-the-board to match inflation, according to audio of an internal Google meeting obtained byThe issue was raised at a special meeting Tuesday when the CEO of Google's parent company Alphabet, Sundar Pichai, read a question from staff, according to CNBC. Frank Wagner, Google's vice president of compensation, responded to the question.
Wagner acknowledged concerns about high inflation but said pay increments would be performance-based, CNBC reported."We don't have any plans to do any type of across-the-board type adjustment," he said. Even though Google is not committing to pay hikes matching inflation, the tech giant has been rolling out a series of benefits in the past year after a company survey indicated a decline in employee wellbeing amid the pandemic,Just yesterday, Google said it would give global staff an additionalGoogle did not immediately respond to Insider's request for comment but told CNBC in a statement that employees receive bonuses and equity in their compensation packages as well.
The development at Google comes as the average American worker looks to receive their largest one-year pay increment since 2008, according to The Conference Board's Sign up for notifications from Insider! Stay up to date with what you want to know.
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