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Topic	CITI raise CEO pay millions. firing 20000 jobs as worst quarter in 14 years
WingsOfGood 02/26/24 12:38:29 PM #17:	streamofthesky posted... You guys still don't get how it works? board members want firing https://www.marketwatch.com/story/hedge-fund-billionaire-google-owner-alphabet-needs-to-cut-more-than-12-000-overpaid-jobs-11674484497 Hedge-fund billionaire: Google owner Alphabet needs to cut more than 12,000 overpaid jobs Hedge-fund billionaire Christopher Hohn has urged Alphabet to widen its job reduction actions to at least 20% of the company, saying 12,000 layoffs are not sufficient enough to reduce the tech giants cost base. Hohn, the billionaire founder of activist hedge fund The Childrens Investment Fund Management, which holds a $6 billion stake in Google parent Alphabet GOOG, -3.75% GOOGL, -3.92%, wrote to CEO Sundar Pichai dated Jan. 20, outlining his concerns of the job cuts announced last week. He said that Google staff are overpaid and the 12,000 layoffs, which equate to around 6% of Alphabets workforce, should be extended to at least 20%. The 12,000 jobs is a step in the right direction, but it does not even reverse the very strong headcount growth of 2022. Ultimately management will need to go further, Hohn wrote. He suggested that Alphabet cut its workforce to around 150,000, its total headcount at the end of 2021. <cite>WingsOfGood posted [p:979053158] in CITI raise... [t:80706351]...</cite> <quote>streamofthesky posted... </cite><quote>You guys still don't get how it works?</quote>board members want firinghttps://www.marketwatch.com/story/hedge-fund-billionaire-google-owner-alphabet-needs-to-cut-more-than-12-000-overpaid-jobs-11674484497Hedge-fund billionaire: Google owner Alphabet needs to cut more than 12,000 overpaid jobs<quote>Hedge-fund billionaire Christopher Hohn has urged Alphabet to widen its job reduction actions to at least 20% of the company, saying 12,000 layoffs are not sufficient enough to reduce the tech giants cost base.Hohn, the billionaire founder of activist hedge fund The Childrens Investment Fund Management, which holds a $6 billion stake in Google parent Alphabet GOOG, -3.75% GOOGL, -3.92%, wrote to CEO Sundar Pichai dated Jan. 20, outlining his concerns of the job cuts announced last week.He said that Google staff are overpaid and the 12,000 layoffs, which equate to around 6% of Alphabets workforce, should be extended to at least 20%.The 12,000 jobs is a step in the right direction, but it does not even reverse the very strong headcount growth of 2022. Ultimately management will need to go further, Hohn wrote.He suggested that Alphabet cut its workforce to around 150,000, its total headcount at the end of 2021.</quote></quote> ... Copied to Clipboard!
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