I heard from friends at Google they are completely pissed with this decision. Their perf cycle is October-March and most of them have already submitted self-assessment in February.
Facebook has higher multipliers than Google. Which means your bonuses and stock are higher, even for similar ratings. Exceed expectations at Google is the same rating as exceeds expectations at Facebook.
Facebook has meets some, meets most, meets all, exceeds, greatly exceeds and redefines (lots of granularity). Google has needs improvement, meets, exceeds, strongly exceeds and superb (slightly less granularity).
This does help the company save some much needed money to survive next quarterly earnings. I think it’s smart. It’ll be smarter if they stopped hiring for next few months except for critical positions.
Generally, that's true but I don't think Google has a balance sheet issue though. This reads as a time balance trade-off to ensure good information is spread about corona on their platform coupled with strong partnership with State/Local/Federal government.
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Every company should start doing this and alleviate the stress on employees, especially one with kids