If gurufocus is to be believed, he owns approx 1.76M shares. GOOGL closed at $98, up $5 today. Not bad for causing more hardship and pain on a +$100B reserve balance.
Every googler who got laid off today that owns google shares made the same % in earnings today. This doesn’t matter.
The goal is to increase shareholder value. And most of the increase today was due to macro market trends and not due to the layoffs (everything went up today)
I know this is the "official" corporate governance imperative for a public company, but in practice this isn't how companies are run (or at least, not Google/etc). Sundar isn't thinking about "shareholder value"... he's thinking about how to make the company (and its employees) successful. Which of course, sometimes means cutting people loose.
Just off the cuff guessing but 12000 people cost $1.2 to $4.8 billon a year
Google has 180k people, minus 12k = 168k. That means their burn rate is 16.8 to 84 billon a year
I'm speaking out of my ass because I don't know the average salary and overhead of a google employee but the low numbers assume $100k a year no zero overhead.
They're a public company. If you want to know how much they spend, just check their quarterly financial reports. It'll be far more accurate than these guesses.
If we follow the assumption that he is responsible for this stock movement, then he made 8 million dollars today and yet made investors 27,000 million dollars - creating 3,300x more value than captured.
You're mixing issues, though. He (and other CEOs, and other execs) will make a shit-load of money for very little "hard work" every day of the week, even while making bad or terrible decisions. There was nothing ever "fair" about exec compensation, if that's what you ever hoped to find.
It's really something to watch people struggle to shrug off the cognitive dissonance and just... realize some things that some others have been preaching for a while, that's all I'll say.
Maybe 2022's unexpected doses of increased class consciousness is going to extend in 2023. (Of course it is, post-pandemic trends only show signs of increasing, strap in!)
CEOs general work harder than workers. They're on 24/7. I don't think I'd ever want to be a CEO of a company as big as Google. They have to deal with 100s of teams as well as 100s of outside companies, governments, etc, all over the world. I really doubt they have it "easy"
I'm a random non-executive employee at a company you've heard of in Silicon Valley, and I made... (checks Stocks app)... more today than my brother in the midwest will make all year.
[+] [-] ajaimk|3 years ago|reply
The goal is to increase shareholder value. And most of the increase today was due to macro market trends and not due to the layoffs (everything went up today)
[+] [-] khazhoux|3 years ago|reply
I know this is the "official" corporate governance imperative for a public company, but in practice this isn't how companies are run (or at least, not Google/etc). Sundar isn't thinking about "shareholder value"... he's thinking about how to make the company (and its employees) successful. Which of course, sometimes means cutting people loose.
[+] [-] tinktank|3 years ago|reply
Quite.
[+] [-] gernb|3 years ago|reply
Google has 180k people, minus 12k = 168k. That means their burn rate is 16.8 to 84 billon a year
I'm speaking out of my ass because I don't know the average salary and overhead of a google employee but the low numbers assume $100k a year no zero overhead.
Please check my math
12000 * $100k = 1.2 billon
168k * $100k = 16.8 billon
[+] [-] jsnell|3 years ago|reply
They're a public company. If you want to know how much they spend, just check their quarterly financial reports. It'll be far more accurate than these guesses.
[+] [-] danielvf|3 years ago|reply
[+] [-] khazhoux|3 years ago|reply
[+] [-] LewisVerstappen|3 years ago|reply
Do you think programmers who sit in a chair all day deserve to be paid 5x what a coalminer makes?
[+] [-] wereallterrrist|3 years ago|reply
Maybe 2022's unexpected doses of increased class consciousness is going to extend in 2023. (Of course it is, post-pandemic trends only show signs of increasing, strap in!)
[+] [-] arcticbunny|3 years ago|reply
[+] [-] gernb|3 years ago|reply
[+] [-] kypro|3 years ago|reply
[+] [-] metadat|3 years ago|reply
[+] [-] metadat|3 years ago|reply
This is $666.666 repeating USD per person laid off from $GOOG. Make of that what you will.
Seems like a lot.
[+] [-] kaczordon|3 years ago|reply
[+] [-] JimtheCoder|3 years ago|reply
I assumed it would be more...
[+] [-] tinktank|3 years ago|reply
[+] [-] khazhoux|3 years ago|reply
What a time to be in tech.
[+] [-] fxd123|3 years ago|reply
[+] [-] fxd123|3 years ago|reply
[+] [-] numinary1|3 years ago|reply
[+] [-] fxd123|3 years ago|reply