Google gives 10% hike, $1000 bonus to employees

Google Inc will give its staff a 10 per cent pay increase, according to website Silicon Alley Insider. The 10% increase would take effect starting January 1, 2011 accross all Google offices. These so-called merit increases will be gauged on each employee’s performance.

Chief executive Eric Schmidt informed its more than 23,000 employees of the raise by email. Google is also giving all its employees a $1,000 holiday bonus in addition to pay increases of at least 10 per cent. Google paying for the taxes on the cash bonuses.

After the news broke out to the media, Google Inc. responded to the reports: “While we don’t typically comment on internal matters, we do believe that competitive compensation plans are important to the future of the company”