The company won’t be doing a company-wide pay raise to match rising prices. | Illustration by Alex Castro / The Verge
Google parent company Alphabet announced its fifth quarter in a row of record profits ($18.9 billion) and second straight quarter of record revenue ($65.1 billion) in October, but a company executive told employees that Google wouldn’t automatically adjust their salaries to account for inflation. According to CNBC, Google’s VP of compensation Frank Wagner told employees at a company all-hands meeting on December 7th that Google doesn’t “have any plans to do any type of across-the-board type adjustment” when asked about the inflation rate in the US.
Wagner did hint that the company’s compensation budgets “reflected” the higher cost of labor that comes with increased prices, according to CNBC. However, he said that the company would…
