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As interest rates rise and companies tighten their belts, white-collar workers have taken the brunt of layoffs and job cuts, breaking with the usual pattern leading into a downturn. WSJ explains why many professionals are getting the pink slip first. Illustration: Adele Morgan
Google Chief Executive Sundar Pichai said top executives would take pay cuts following the largest round of layoffs in the company’s history.
Speaking at a companywide meeting on Monday, Mr. Pichai said employees at the senior-vice president level and above would get lower bonuses as part of cost-cutting measures, according to people who heard the remarks.
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