Christopher Hohn has written a letter to Google and Alphabet CEO Sundar Pichai (Google CEO Sundar Pichai) and advised to remove 20% of the company’s total employees.
Image Credit source: File Photo
Google Alphabet’s parent company Alphabet Inc has announced the layoff of its 12,000 employees, which accounts for 6 per cent of its total workforce. Despite this, the investors of the world’s most popular search engine are not satisfied. Google’s biggest investor British Hedge Fund Billionaire Christopher Hohn has asked to remove 1.5 lakh employees, who in his view are ‘overpaid workers’ of Google.
Christopher has written a letter to Google and Alphabet CEO Sundar Pichai (Google CEO Sundar Pichai) and advised to remove 20% of the company’s total employees. But now the question arises whether Google will lay off more employees. This advice of the investor has created fear among the employees. Now which people will be fired by Google.
today’s big news
In a letter written by Christopher Hon on January 20, Pichai has been congratulated for removing 12,000 employees. Christopher said that Google’s removal of 12,000 employees is a step in the right direction, but it does not bring back the massively increased workforce in 2022. Ultimately, management needs to go beyond this.
The company has doubled its workforce in the last five years, Christopher said. Management needs to reduce at least 1.5 lakh employees in this, so that the head count of Alphabet can be equal to the last months of the year 2021. For this, there is a need to cut the total number of employees by 20%.
‘Compensation’ also needs to be considered
Christopher said that Sundar Pichai also needs to consider the ‘fat compensation’ being received by the employees being removed after the retrenchment. He has also told Google the need to moderate stock based payments.
Know who is Christopher Hawn?
Christopher Hone is a British investor who founded the London-based hedge fund Children’s Investment Fund Management in 2003. According to Forbes, Hahn’s net worth is estimated to be $7.9 billion. According to The Telegraph, Hahn’s company has invested a total of $6 billion in Google’s parent company Alphabet. Hahn came into the limelight last year when he declared a salary of 1.5 million euros per day for himself.