executives are deferring a portion of employees’ year-end bonus checks, according to documents viewed by CNBC, as the company moves toward permanently pushing back payouts.
In past years, employees received their full bonuses in January. However, Google will pay qualifying full-time employees 80% of their bonus checks this month and the remaining 20% in March or April, the documents say. Payments in April would be in the second quarter, potentially allowing Alphabet to spread out its costs.
Google described the January payout as an “advance” in correspondence to employees. Leadership said it will be a one-time change due to “transition” of its employee evaluation system and the altered timing for future bonuses.
“After 2023, full bonuses will be paid in March,” the company said in the memo.