Moneycontrol

Budget 2023Budget 2023

PARTNERS

  • Tata AIA Life Insurance
  • Hafele
  • Motilal Oswal
  • SMC Global Securities Limited
  • SBI Life
  • DSP Mutual Fund
Upcoming Event : LeapToUnicorn - mentoring, networking and fundraising for startups. Register now
you are here: HomeNewsTrends

Google investor, who asked Sundar Pichai to cut more jobs, made over Rs 15 crore a day in 2022

Chris Hohn said in his letter to Sundar Pichai that Google needs to shrink its workforce by 20 per cent and also reduce employee compensation.

January 24, 2023 / 04:49 PM IST
British billionaire hedge fund manager Christopher Hohn told Google CEO Sundar Pichai that the decision to cut 12,000 jobs is a step in the right direction. (Image credit: @britishasiantst/Twitter)

British billionaire hedge fund manager Christopher Hohn told Google CEO Sundar Pichai that the decision to cut 12,000 jobs is a step in the right direction. (Image credit: @britishasiantst/Twitter)

Billionaire hedge fund manager Christopher Hohn, who advised Alphabet CEO Sundar Pichai to cut more jobs even after 12,000 layoffs were announced, reportedly made £1.5 million (Rs 15.07 crore) a day in 2022.

Chris Hohn, the founder of The Children's Investment Fund Management (TCI) holds a $6 billion stake in Google-parent company Alphabet, and in a now viral letter to Pichai, said that while mass layoffs are a step in the right direction, but it does not reverse the new jobs added in 2022. He advised that the company should reduce workforce to 1,50,000 – a 20 per cent cut – from the now announced 6 per cent global workforce layoffs.

Hohn further added that he hopes to "have a further dialogue" with Pichai on the issue.


Read his full letter:


He even went to say that the average salary for a Google employee was quite high as well at $3,00,000 a year adding the competition in the technology industry has fallen which should allow the company to reduce each employee’s compensation. All this while he pocketed a record-breaking $690 million (£574m) in profits in 2022 alone.