Google raise: Employees to get 10 pc salary hike
Saturday, November 13, 2010, 13:42 [IST]
California, Nov 13: The computer giant Google Inc has announced a 10 percent salary hike for its 23,000 employees on Friday, Nov 12.
Eric Schmidt, the CEO for Google, released a memo internally to confirm the good news.
"We’ve heard from your feedback on Googlegeist and other surveys that salary is more important to you than any other component of pay (i.e., bonus and equity). To address that, we’re moving a portion of your bonus into your base salary, so now it’s income you can count on, every time you get your paycheck. That’s also effective Jan 1st. You’ll be receiving an e-mail shortly with further details about these changes to your compensation. And one last thing…today we’re announcing that everyone will get a holiday cash bonus, too," Eric Schmidt described in the memo.
Read: தமிழில்
Market analysts described Google's salary raise as a move to keep employees moving to other firms especially, to its main rival Facebook. The new hike will costs the company around $1 billion a year.
OneIndia News
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