Googlers Reportedly to Get 10% Pay Raise
MOUNTAIN VIEW, California (
) --
(GOOG) - Get Report
is raising the salaries of all its 23,000 employees by 10%, the
Wall Street Journal
and other publications report.
The pay hike, which will be given to executives and staff across the globe, is effective in January, the
Journal
says. The newspaper cited people familiar with the matter.
Google's move is an effort to try and stem the flow of employees leaving for competitors such as
. About 10% of Facebook's employees are Google veterans, the
Journal
notes.
The
Financial Times
reports Google also has given all of its "Googlers" $1,000 cash "holiday bonuses" and the Internet search giant also will give each employee an additional raise equivalent to one times the employee's target bonus for the year. Employees also will be eligible for additional "merit increases" based on their individual performance.
In an internal email, Google CEO Eric Schmidt said the move comes in response to feedback that employees value the salary part of their compensation more than bonuses or stock compensation, the
Financial Times
reports.
-- Written by Joseph Woelfel
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Joseph Woelfel
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