Reuters | | Posted by Ritu Maria Johny
Alphabet Inc’s Google is deferring a portion of its workers’ year-end bonuses as a part of a transition to a brand new efficiency administration system, the search engine large stated on Thursday.
The corporate can pay 80% advance bonus to eligible workers initially and the rest in later months, a spokesperson advised Reuters, including that the transfer was communicated to workers final yr.
The event comes amid tech firms’ makes an attempt to restrict spending amid a broader slowdown in demand and deteriorating financial circumstances.
Alphabet has to this point introduced cuts impacting over 200 workers in its well being sciences division whilst its megacap friends Amazon.com Inc, Meta Platforms Inc and Microsoft Corp have let go 1000’s of workers.
The advance bonus might be paid in January and the remaining 20% in March or April, based on CNBC, which first reported the story. All bonuses subsequent yr onwards might be paid in March, the report added.
Google usually paid full bonuses within the first month of the yr.