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- Mar 19, 2015
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Anita Balakrishnan 13 hours ago
The car project at Google-parent Alphabet (GOOGL) paid some workers so much that they built a nest egg and ditched the company, according to a Bloomberg report.
Some long-time staffers were paid so much that eventually they "didn't need the job security anymore," people familiar with the situation told Bloomberg in a report published Monday. The sometimes multimillion-dollar paychecks were part of an "unusual compensation system" that started in 2010 and included performance-based compensation, bonuses and equity, Bloomberg reported.
Some even called the payouts "F-you money," Bloomberg reported. Google declined to comment on the report to CNBC.
The self-driving car project, now called Waymo, has since gotten a more uniform pay structure, a source told Bloomberg.
Over the past year, Alphabet has trimmed some of the "other bets," leading some analysts to question the company on whether it was shedding its key talent in the process. For instance, self-driving truck start-up Otto, acquired by Uber, was founded by ex-Googlers.
For more on the story, see the article at Bloomberg.com
More From CNBC
The car project at Google-parent Alphabet (GOOGL) paid some workers so much that they built a nest egg and ditched the company, according to a Bloomberg report.
Some long-time staffers were paid so much that eventually they "didn't need the job security anymore," people familiar with the situation told Bloomberg in a report published Monday. The sometimes multimillion-dollar paychecks were part of an "unusual compensation system" that started in 2010 and included performance-based compensation, bonuses and equity, Bloomberg reported.
Some even called the payouts "F-you money," Bloomberg reported. Google declined to comment on the report to CNBC.
The self-driving car project, now called Waymo, has since gotten a more uniform pay structure, a source told Bloomberg.
Over the past year, Alphabet has trimmed some of the "other bets," leading some analysts to question the company on whether it was shedding its key talent in the process. For instance, self-driving truck start-up Otto, acquired by Uber, was founded by ex-Googlers.
For more on the story, see the article at Bloomberg.com
More From CNBC
