Google's Rapid Growth Raises Questions on Employee Compensation at All-Hands Meeting from authorization letter format for employee Watch Video
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⏲ Duration: 0:40 👁 View: 250K times ✓ Published: 10-May-2024
Description: Google employees questioned leadership about cost cuts, layoffs, and declining morale at an all-hands meeting after Q1 earnings beat estimates. CEO Sundar Pichai said most layoffs will be completed in the first half of 2024, with a much smaller scale in the second half. CFO Ruth Porat said expenses grew faster than revenue, which isn't sustainable, and the focus is investing in growth areas. Porat defended share buybacks and dividends, saying cash can't just be drained and the board has fiduciary duties.