The author of the letter details how salary contraction would work: "Alphabet should limit stock-based compensation given the depressed share price."
So, cut back on RSU grants.
So, cut back on RSU grants.
However, with stacked refreshers etc… the math might get kind of fuzzy. But I’m just saying that it isn’t an obvious choice to think a pay cut won’t lose some of your better talent. And replacing them isn’t guaranteed to be cheaper. Not to mention the ramp up time and how it will take a lot of time to operate at the same productivity as someone who has been doing the job for years.