Google's Decision To Delay Staff Bonus Checks Leads To Surprise, Confusion, Memes

Alphabet Inc GOOGL GOOG search unit Google is delaying a part of staff’s year-end bonus checks.

What Happened: In the past, Google employees were given full bonuses in January, but this year the search engine giant will pay them 80% of their bonus checks in the current month and the remaining in March or April, reported CNBC based on documents seen.

The April payments will reportedly be in the second quarter allowing Google to spread costs.

Google is making a move to permanently push bonuses to March. The company said in a memo, “After 2023, full bonuses will be paid in March,” according to the report.

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Why It Matters: Google employees expressed concern and surprise over the deferred bonuses, reported CNBC.

Some have taken to generating memes, with one reportedly reading “Got my BONU,” referring to the incomplete payment.

The delayed Google bonus news comes in the mid of layoffs that have hit other technology companies such as Amazon.com, Inc AMZN, Microsoft Corporation MSFT, and Facebook parent Meta Platforms Inc MSFT. 

Similar layoffs have not taken place at Alphabet, but Google is reportedly reworking its performance rating systems for employees which indicates more will fall into lower-rated categories, which employees fear, in turn, will be used to thin their numbers. 

Price Action: On Thursday, Alphabet Class A shares closed 2.1% at $93.05 in the regular session and rose 0.2% in the after-hours trading. The company’s Class C shares closed 2.3% higher at $93.91 and rose 0.3% in the after-hours session, according to Benzinga Pro data.
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