Blackstone Executive Vice Chairman Tony James says he's less optimistic now than before that the U.S.-China trade war could be resolved, but even a smaller deal could help...World Economyread more
The massive market transformation this month that some on Wall Street called a "once in a decade opportunity" might have just been a one-off technical move because of taxes.Marketsread more
The Pentagon will deploy U.S. forces to the Middle East on the heels of the attack on Saudi Arabian oil facilities, United States Secretary of Defense Mark Esper announced...Defenseread more
CNBC did a deep dive through the most recent Wall Street research to find stocks that analysts say are underappreciated.Marketsread more
Shares of MasterCard are up 46% this year, and 1120% since 2011, getting a boost from the strong U.S. consumer.Investingread more
CNBC sat in on an "empathy training" at Amazon PillPack's Somerville offices, which is part of new hire orientation.Technologyread more
Trade with China is the 'big unknown' for the Federal Reserve as it decides how best to support the U.S. economy, says Council on Foreign Relations Director of International...Futures Nowread more
Lobbying experts said the visit is likely an attempt to be in lawmakers' ears as they consider legislation that would impact Facebook.Technologyread more
Yardeni Research's Edward Yardeni believes the U.S. economy is picking up steam.Trading Nationread more
Iran's audacious drone and cruise missile attack on Saudi Arabia's oil producing facilities has provided a critical test yet for the Trump administration's foreign policy. A...Politicsread more
Thousands of Google employees in more than 20 offices around the world are staging walk-outs to protest what organizers describe as "a workplace culture that's not working for everyone."
The demonstrations — set for 11:10 a.m. Thursday at each local time — come in in the wake of an explosive New York Times' report that detailed how Google shielded executives accused of sexual misconduct, either by keeping them on staff or allowing them amicable departures. For example, Google reportedly paid Android leader Andy Rubin a $90 million exit package despite asking for his resignation after finding sexual misconduct claims against him credible. (Through a spokesperson, Rubin denied any misconduct and on Twitter he called his reported compensation a "wild exaggeration.")
Organizers of the walk-out demand more transparency from Google around its handling of sexual harassment and pay and opportunity inequality, as well as more employee empowerment overall, according a statement circulated by organizers and sent to company executives. For example, organizers want an employee representative to join the company's board and for Google to end "forced arbitration" in cases of harassment and discrimination, a practice that prevents employees from taking cases to court.
"While Google has championed the language of diversity and inclusion, substantive actions to address systemic racism, increase equity, and stop sexual harassment have been few and far between," the employee statement reads. "ENOUGH. Reassuring PR won't cut it: we need transparency, accountability, and structural change."
Demonstrators were seen pictured in Singapore, Tokyo, London, Berlin and Zurich in a number of Twitter posts shared by the organizers, accompanied with the hashtag #GoogleWalkout.
At Google's headquarters in Mountain View, Calif., employees shared their own experiences of sexual harassment and abuse at the company on stage. One woman tearfully shared a story about having a drink tampered with by a co-worker, and then having to continue to work with the person allegedly responsible.
Another on-stage participant said that she felt disenfranchised in her work on an Android app meant to get kids interested in tech and science, because of the toxic culture in the industry.
"I feel like I'm leading young girls and boys to the slaughter," she said. "Why would you want to go into tech if it's like this?"
Organizers led chants like "Time's up!" and "This is what Googleyness looks like."
"I'm here because every one of our voices matter and if we are not standing together the necessary changes won't happen," Nellie Rajabi, a music supervisor at Google, told CNBC in Mountain View.
Earlier in the day, the park where the protest was held in New York City was overflowing its capacity of 750, police told CNBC.
"It's time we stop congratulating ourselves just because it used to be so much worse," Google Engineering Manager Raymond Blum told CNBC in New York. "You claim don't be evil, change the world. Fine. Be better... don't only be better, be as good as possible."
Google Software Engineer Nghi Doan said she walked out on Thursday because she had "personal experience" with harassment at the company.
Google CEO Sundar Pichai sent a memo to staff last week saying the company has taken "an increasingly hard line" on inappropriate conduct at work and had fired 48 people, including 13 senior managers, in the last two years, without exit packages. On Tuesday, he sent a follow-up note reiterating his apology "for the past actions and the pain they have caused employees" and said that employees would have the "support" they needed to show up for the protests.
One of the executives accused of inappropriate behavior in the Times' piece, Richard DeVaul of Alphabet's research Lab, X, resigned on Tuesday.
Still, protesters say that, for every story reported in the press, there are "thousands more, at every level of the company."
Thursday's action follows more than a year of turbulence and organizing at parent company Alphabet.
Lack of diversity is a problem across the tech industry, but Google has been at the center of public attention since last August when an employee's internal memo attributing women's under-representation in the tech industry to gender differences went viral. The memo's author, an engineer named James Damore, was subsequently fired, but the incident led to internal turmoil and employee frustration about how the company handles diversity-related hiring and retention, as well as about harassment.
Overall, nearly 70 percent of Google employees are male and 53 percent are white, according to the company's latest diversity statistics. In leadership roles, the numbers are even starker: 67 percent are white and 75 percent are male.
At Alphabet's shareholders' meeting in June, a group of employees bucked leadership by presenting a proposal that called for Alphabet's executive compensation to be tied to diversity metrics. The proposal didn't pass, but Pat Tomaino, a representative of Zevin Asset Management, which filed the proposal, said these latest protests are another sign that the company's top executives need to take responsibility.
"Google's value depends on its ability to find and keep the most talented engineers on the planet, no matter their gender or what they look like or where they're from," Tomaino told CNBC. "That employees are worried about their own workplace creates further concern for investors."
Previously, employee organizing has appeared to sway company business decisions. In June, Google's cloud unit said that it would not renew a controversial Pentagon contract next year following intense internal backlash.
Most recently, Google employees expressed outrage after plans leaked that it had considered a censored search app in China. A handful of employees quit in protest and hundreds of others signed a letter saying that it raised "urgent moral and ethical issues."
Other tech companies, too, have had employees protest recent projects. Representatives from Amazon, Salesforce, and Microsoft have signed petitions and held demonstrations concerning how their work is being used for surveillance or separating families at the U.S. border.
The Tech Workers Coalition, an employee activist group, says that it's seen an increase in interest and events over the last year.
"We stand in solidarity with Google workers," an organization spokesperson says.
Here is the full statement from employee organizers:
Time's up at Google.
As Google workers, we were disgusted by the details of the recent New York Times article, which provided the latest example of a culture of complicity, dismissiveness, and support for perpetrators in the face of sexual harassment, misconduct, and abuse of power. Sadly, this is part of a longstanding pattern, one further amplified by systemic racism. We know this culture well. For every story in the New York Times, there are thousands more, at every level of the company. Most have not been told.
As the recent article and the executive response make clear, these problems go all the way to the top. While Google has championed the language of diversity and inclusion, substantive actions to address systemic racism, increase equity, and stop sexual harassment have been few and far between. ENOUGH. Reassuring PR won't cut it: we need transparency, accountability, and structural change.
On Thursday, November 1st, Google employees and contractors will walk out in protest, standing up for each other, fighting for equity, and demanding real change:
1 - An end to Forced Arbitration in cases of harassment and discrimination for all current and future employees, along with a right for every Google worker to bring a co-worker, representative, or supporter of their choosing when meeting with HR, especially when filing a harassment claim.
2 - A commitment to end pay and opportunity inequity, for example making sure there are women of color at all levels of the organization, and accountability for not meeting this commitment. This must be accompanied by transparent data on the gender, race and ethnicity compensation gap, across both level and years of industry experience, accessible to all Google and Alphabet employees and contractors. Such data must include, but not be limited limited to: information on relative promotion rates, under-leveling at hire, the handling of leaves, and inequity in project and job ladder change opportunities. The methods by which such data was collected and the techniques by which it was analyzed and aggregated must also be transparent.
3 - A publicly disclosed sexual harassment transparency report, including: the number of harassment claims at Google over time and by product area; the types of claims submitted; how many victims and accused have left Google; any exit packages and their worth.
4 - A clear, uniform, globally inclusive process for reporting sexual misconduct safely and anonymously. The process today (i.e. go/saysomething) is not working, in no small part because HRs' performance is assessed by senior management and directors, forcing them to put management's interests ahead of employees reporting harassment and discrimination. The improved process should also be accessible to all: full-time employees, temporary employees, vendors, and contractors alike. Accountability, safety and an ability to report unsafe working conditions should not be dictated by employment status.
5 - Elevate the Chief Diversity Officer to answer directly to the CEO and make recommendations directly to the Board of Directors. In addition, appoint an Employee Representative to the Board. Both the CDO and the Employee Representative should help allocate permanent resources for demands 1-4 and other equity efforts, ensure accountability to these demands, and suggest propose changes when equity goals are not met.
WHY ARE YOU DOING THIS?
For every story in the New York Times, there are thousands more, at every level of the company. Many have not been told. We are part of a growing movement, and we are not going to stand for this anymore.
WHY ARE CONTRACT WORKERS INCLUDED IN THE DEMANDS?
Many temps, vendors, and contractors (TVCs) are doing business-critical work without the benefits or recognition, and several do so in the hopes of being able to convert to full-time employment. Coming forward with sexual harassment concerns or other HR complaints (salary/recognition) can significantly jeopardize conversion opportunities, let alone continued employment as a TVC. Remember, TVCs are paid hourly, have very limited benefits, and likely make significantly less than their FTE counterparts.
The power structure that inherently diminishes TVCs is rooted in the same foundation of inequality. If we want real change, we have to take action together.
WHY ARE PRIVILEGED GOOGLE WORKERS WALKING OUT?
This is part of a growing movement, not just in tech, but across the country, including teachers, fast food workers, and others who are using their strength in numbers to make real change. We know that it can be more difficult for other workers to stand up which is why we stand in solidarity with the temporary and contract workers here at Google, but we encourage everyone who feels this injustice to take collective action.