 Amid geopolitical uncertainty and supply chain glitches, the central bank abandoned forward guidance but said that monetary policy will be “calibrated, measured, and nimble” to ensure financial and economic stability. Currently, home loan rates are hovering around 7.4% after staying at a decadal low of 6.6% for nearly two years. Twitter admitted it didn’t disclose the litigation to Musk or contact his companies during the interactions it had with regulators in India. It said the platform did not need to disclose these interactions. Google CEO Sundar Pichai speaks on stage during the annual Google I/O developers conference in Mountain View, California, May 8, 2018. Google is launching a new effort called "Simplicity Sprint" in an effort to improve efficiency and improve employee focus during an uncertain economic environment. The Alphabet company had its regular all-hands meeting last Wednesday, and the tone was somewhat urgent as employees expressed concern over layoffs and CEO Sundar Pichai asked employees for input, according to attendees and related internal documentation viewed by CNBC. Google’s productivity as a company isn’t where it needs to be even with the head count it has, Pichai told employees in the meeting. “I wanted to give some additional context following our earnings results, and ask for your help as well,” Pichai opened, referring to the company's second-quarter earnings report Tuesday. "It’s clear we are facing a challenging macro environment with more uncertainty ahead." He added, "There are real concerns that our productivity as a whole is not where it needs to be for the head count we have." He asked employees to help "create a culture that is more mission-focused, more focused on our products, more customer focused. We should think about how we can minimize distractions and really raise the bar on both product excellence and productivity.” It comes after the company on Tuesday reported its second consecutive quarter of weaker-than-expected earnings and revenue. Revenue growth slowed to 13% in the quarter from 62% a year earlier, when the company was benefiting from the post-Covid pandemic reopening and consumer spending was on the rise. CFO Ruth Porat said she expected some of the challenges to continue in the near term but the company doesn't give formal guidance. It also comes after Pichai recently announced that it would slow the pace of hiring and investments through 2023, asking employees to work “with greater urgency” and “more hunger” than shown “on sunnier days." “I would love to get all your help,” Pichai said at Wednesday's all-hands meeting, speaking to its more than 170,000 full-time employees. To that end, Pichai introduced a "Simplicity Sprint" initiative to crowdsource ideas for quicker product development. "Sprint" is a term often used in software development and by tech startups to denote short, focused pushes toward a common goal. Pichai said the company is opening the floor for employees to share their ideas through Aug. 15 through an internal survey that asks if management can reach out if they have follow-up questions. It’s an attempt for the company to “get better results faster," Pichai said during the meeting. The survey, which was viewed by CNBC, shows it may also be used to cut back in certain areas. Questions in the survey include “What would help you work with greater clarity and efficiency to serve our users and customers? Where should we remove speed bumps to get to better results faster? How do we eliminate waste and stay entrepreneurial and focused as we grow?” The request also comes as the company tries to ease tensions between employees and executives after an annual “Googlegeist” survey showed staffers gave the company particularly poor marks on pay, promotions and execution. Highlighting a 7% dip in views about Google’s execution, executive Prabhakar Raghavan at the time wrote “that means we need to bring more attention to busting bureaucracy." Raghavan is among the most important and influential execs at the company, overseeing search, ads, mapping and other areas. In May, the company announced it would overhaul its performance evaluation process that will result in increased salaries while hoping to reduce the bureaucracy around compensation and raises. In Wednesday's all-hands meeting, executives addressed employees' concern about potential layoffs. One of the top-rated questions was “In light of Sundar’s statement that sharpening Google’s focus ‘means consolidating where investments overlap and streamlining processes,’ should we expect layoffs?” Pichai handed the question off to Google’s chief people officer, Fiona Cicconi. While Cicconi said the company is still hiring and doesn't have plans for layoffs right now, she didn’t rule it out. “We’re asking teams to be more focused and efficient and we’re working out what that means as a company as well. Even though we can’t be sure of the economy in the future, we're not currently looking to reduce Google's overall workforce." She also said, “I really get that there is some anxiety around this based on what we’re hearing from other companies and what they’re doing and as Sundar mentioned, we’re still hiring for critical roles,” Cicconi said. She asked employees to remember that it’s still the biggest hiring year in the company’s history. In the second quarter, Alphabet said its head count rose 21% to 174,014 full-time employees from 144,056 the year prior. However, the company said last month it will slow the pace of hiring and investments through 2023, and Pichai told employees in a memo, "we're not immune to economic headwinds." Pichai noted the broader economic headwinds multiple times. “If you’re looking to what's happening externally — I’m sure you’re all reading the news— the people in businesses who use Google products are facing their own challenges right now.” Pichai Sundararajan (born June 10, 1972[1][4][5]), better known as Sundar Pichai (/ˈsʊndɑːr pɪˈtʃaɪ/), is an Indian-American business executive.[6] He is the chief executive officer (CEO) of Alphabet Inc. and its subsidiary Google.[7] Sundar Pichai Pichai in 2020 Pichai Sundararajan Madurai, Tamil Nadu, India Born in Madurai, India,[4] Pichai earned his degree from IIT Kharagpur in metallurgical engineering. Moving to the United States, he attained an M.S. from Stanford University in materials science and engineering and further attained an MBA from the Wharton School of the University of Pennsylvania, where he was named a Siebel Scholar and a Palmer Scholar, respectively.[8] Pichai began his career as a materials engineer. Following a short stint at the management consulting firm McKinsey & Co., Pichai joined Google in 2004,[9] where he led the product management and innovation efforts for a suite of Google's client software products, including Google Chrome and Chrome OS, as well as being largely responsible for Google Drive. In addition, he went on to oversee the development of other applications such as Gmail and Google Maps. In 2010, Pichai also announced the open-sourcing of the new video codec VP8 by Google and introduced the new video format, WebM. The Chromebook was released in 2012. In 2013, Pichai added Android to the list of Google products that he oversaw. Pichai was selected to become the next CEO of Google on August 10, 2015, after previously being appointed Product Chief by CEO Larry Page. On October 24, 2015, he stepped into the new position at the completion of the formation of Alphabet Inc., the new holding company for the Google company family. He was appointed to the Alphabet Board of Directors in 2017.[10] Pichai was included in Time's annual list of the 100 most influential people in 2016[11] and 2020.[12] Pichai was born in Madurai, Tamil Nadu, India.[13][14][15] His mother, Lakshmi, was a stenographer, and his father, Regunatha Pichai, was an electrical engineer at GEC, the British conglomerate. His father also had a manufacturing plant that produced electrical components.[16][17] Pichai completed schooling in Jawahar Vidyalaya Senior Secondary School[18] in Ashok Nagar, Chennai and completed the Class XII from Vana Vani school at IIT Madras.[19][20] He earned his degree from IIT Kharagpur in metallurgical engineering and is a distinguished alumnus from that institution.[21] He holds an M.S. from Stanford University in materials science and engineering, and an MBA from the Wharton School of the University of Pennsylvania,[22] where he was named a Siebel Scholar and a Palmer Scholar, respectively.[1][23][24] Pichai speaking at the 2015 Mobile World Congress in Barcelona, Spain Pichai worked in engineering and product management at Applied Materials and in management consulting at McKinsey & Company.[25] Pichai joined Google in 2004, where he led the product management and innovation efforts for a suite of Google's client software products, including Google Chrome[26] and Chrome OS, as well as being largely responsible for Google Drive. He went on to oversee the development of other applications such as Gmail and Google Maps.[27][28] On November 19, 2009, Pichai gave a demonstration of Chrome OS; the Chromebook was released for trial and testing in 2011, and released to the public in 2012.[29] On May 20, 2010, he announced the open-sourcing of the new video codec VP8 by Google and introduced the new video format, WebM.[30] On March 13, 2013, Pichai added Android to the list of Google products that he oversaw. Android was formerly managed by Andy Rubin.[31] He was a director of Jive Software from April 2011 to July 30, 2013.[32][33][34] Pichai was selected to become the next CEO of Google on August 10, 2015[35] after previously being appointed Product Chief by CEO, Larry Page. On October 24, 2015, he stepped into the new position at the completion of the formation of Alphabet Inc., the new holding company for the Google company family.[36][34][37] Pichai had been suggested as a contender for Microsoft's CEO in 2014, a position that was eventually given to Satya Nadella.[38][39] In August 2017, Pichai drew publicity for firing a Google employee who wrote a ten-page manifesto criticizing the company's diversity policies.[40][41][42][43][44] In December 2017, Pichai was a speaker at the World Internet Conference in China, where he stated that "a lot of work Google does is to help Chinese companies. There are many small and medium-sized businesses in China who take advantage of Google to get their products to many other countries outside of China."[45][46] In December 2019, Pichai became the CEO of Alphabet Inc.[47][48] Pichai delivers a speech virtually at the Singapore FinTech Festival 2020. In December 2020, Pichai delivered a speech virtually at the Singapore FinTech Festival emphasizing inclusive digital economy.[49] The coronavirus outbreak has sped up the adoption of digital tools and trends by years........Southeast Asia's Internet economy is currently on the verge of a massive transformation......more than 40 million people in the region connected to the Internet for the first time in 2020 – four times as many as the year before......while Covid has accelerated the use of digital tools, it's also exposed how many people are still left behind......some 1.7 billion people around the world are still unbanked, a huge portion of African households do not have access to broadband and millions of women entrepreneurs lack the same access to opportunity as their male counterparts.[50]Pichai said at the conclusion of his speech, Our goal for the post-Covid world is to ensure the benefits of technology can be shared, as widely and equitably as possible. If we can do that, 2020 will be remembered not as the end of the world, but the beginning of a world that works better for everyone.[51]Pichai on Marques Brownlee's talkshow On December 11, 2018, Sundar Pichai was questioned by the U.S. House Judiciary Committee on a range of Google-related issues such as possible political bias on Google's platforms, the company's alleged plans for a "censored search app" in China, and its privacy practices.[52] In response, Pichai informed the committee that Google employees cannot influence search results. He also stated that Google users can opt out of having their data collected and that "there are no current plans for a censored search engine" in China.[53] Wired's Issie Lapowsky characterized Pichai's appearance before the committee as a "major missed opportunity," since, as she wrote, its members "staked out opposite sides of a partisan battle".[54][better source needed] In October 2020, the United States Senate Committee on Commerce, Science, and Transportation unanimously voted in favor of, and on a bipartisan basis, to subpoena Pichai, along with the CEOs of Facebook and Twitter, to testify before the committee in response to lawmakers' concerns over the technology industry's exemption from Section 230 of the Communications Decency Act of 1934.[55] In 2022, Pichai received the Padma Bhushan from the Government of India, its third-highest civilian award.[56][57] Pichai is married to Anjali Pichai and has two children.[58] His recreational interests include cricket and football.[59][60]
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