Google gives employees 10 percent raise, cash

In an apparent move to stave off defections to competitors, Google announced it is giving all its employees a $1,000 cash bonus and a raise of 10 percent, according to a source familiar with the matter.

 

The raises, which take affect January 1, 2011, apply to all 25,000 employees at the Internet giant, according to an e-mail to employees penned by Google CEO Eric Schmidt and first revealed by Business Insider. “We want to make sure that you feel rewarded for your hard work,” Schmidt wrote. “We want to continue to attract the best people to Google.” Reg Cure

 

In addition to the raise and bonus, Google will move a portion of employees’ bonuses into their base salaries, ensuring that they received the entire amount, Schmidt said in his e-mail:

 

 

 CONFIDENTIAL: INTERNAL ONLY 
GOOGLERS ONLY (FULL TIME AND PART TIME EMPLOYEES)

 

I’m pleased to share some very, very good news with Googlers worldwide. But first let me say, on behalf of everyone on the management team, that we believe we have the best employees in the world. Period. The brightest, most capable group of this size ever assembled. It’s why I’m excited to come to work every day–and I’m sure you feel the same way. We want to make sure that you feel rewarded for your hard work, and we want to continue to attract the best people to Google.


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