Google Employees Question Execs Over 'Decline in Morale' After Blowout Earnings

"Google's business is growing at its fastest rate in two years," reports CNBC, "and a blowout earnings report in April sparked the biggest rally in Alphabet shares since 2015, pushing the company's market cap past $2 trillion. "But at an all-hands meeting last week with CEO Sundar Pichai and CFO Ruth Porat, employees were more focused on why that performance isn't translating into higher pay, and how long the company's cost-cutting measures are going to be in place.""We've noticed a significant decline in morale, increased distrust and a disconnect between leadership and the workforce," a comment posted on an internal forum ahead of the meeting read. "How does leadership plan to address these concerns and regain the trust, morale and cohesion that have been foundational to our company's success?" Google is using artificial intelligence to summarize employee comments and questions for the forum. Alphabet's top leadership has been on the defensive for the past few years, as vocal staffers have railed about post-pandemic return-to-office mandates, the company's cloud contracts with the military, fewer perks and an extended stretch of layoffs - totaling more than 12,000 last year - along with other cost cuts that began when the economy turned in 2022. Employees have also complained about a lack of trust and demands that they work on tighter deadlines with fewer resources and diminished opportunities for internal advancement. The internal strife continues despite Alphabet's better-than-expected first-quarter earnings report, in which the company also announced its first dividend as well as a $70 billion buyback. "Despite the company's stellar performance and record earnings, many Googlers have not received meaningful compensation increases" a top-rated employee question read. "When will employee compensation fairly reflect the company's success and is there a conscious decision to keep wages lower due to a cooling employment market?"

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