Apple CEO Tim Cook requested a pay cut of 40% this year, bringing his total annual salary down to $49 million, and Zoom CEO Eric Yuan decided to reduce his salary by 98% this year and forego additional bonuses.
Other leading tech CEOs have recently been applauded for scaling down their salary for the good of the company. While Sundar Pichai is taking home an exorbitant income while his company scrimps and saves, this appears to go against current trends taking place in the industry.
Tim Cook and Other Tech CEOs Are Sacrificing Their Salaries Reports reveal that Google has been refusing to cover maternity and medical leave for those that have been laid off too – certainly not a good look for somewhere that was voted the “best company to work for” seven years on the trot. This follows seismic layoffs that saw 12,000 workers leave the company in January, and similar cuts that saw 200 workers lose their job in Zurich in March – prompting walkouts in the Swiss HQ as well as in the company's London offices. In April, the company announced its employee services would be taking a hit, with fitness classes, equipment replacement, and travel budgets being sacrificed to make it easier for them to reach their targets. Google Cuts Employee Services to Meet Targetsĭespite a healthier-than-expected first quarter, throughout 2023 search behemoth Google has been rolling out its biggest cost-cutting measures it witnessed in almost two decades. Google staffers are also pressed about the company's proposed decision to buy back $70 billion in stock, a type of reacquisition that has previously attracted criticism from President Joe Biden for prioritizing company profits over alternatives like employee pay rises.
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