Google Sweden Reports Strong Financial Growth Amidst Employee Reductions
Google Sweden's latest annual report shows revenue growth and salary increases despite job cuts.
Key Points
- • Net revenue rose to 1.95 billion SEK in 2024.
- • Profit after financial items increased by 5.6% to 180 million SEK.
- • Workforce decreased from 448 to 433 employees.
- • Average monthly salary for employees is now approximately 150,792 SEK.
Google Sweden's 2024 annual report reveals promising financial results despite a slight reduction in personnel. Net revenue surged to 1.95 billion SEK, a notable increase from 1.87 billion SEK in 2023. Profit after financial items also saw growth, rising to 180 million SEK, marking a 5.6% increase over the previous year's 170 million SEK. Additionally, the operating profit climbed significantly to 143 million SEK, up from 98 million SEK the year before.
However, this positive financial outlook comes alongside a decrease in the company's workforce, which fell from 448 employees in 2023 to 433 in 2024. Salary costs excluding social costs and pension contributions totaled 783.5 million SEK for the year. With this calculation, the average annual salary per employee reached approximately 1.8 million SEK, equating to about 150,792 SEK monthly. This rise in average salary from 138,000 SEK reflects the company's robust profitability, suggesting that those remaining employees experienced better salary packages in light of these financial successes.