By DPA,
San Francisco: Google has given all its 23,000 employees a 10 percent pay hike in a move designed to deter defections of valuable knowledge workers to rivals such as Facebook, the Wall Street Journal reported Wednesday.
The report said that Google CEO Eric Schmidt announced the pay rise in a company-wide email. “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.”
Recent reports have indicated that as many as 10 percent of Facebook’s employees formerly worked at Google, including many of the company’s top executives and software engineers.
With over 500 million members, Facebook is the world’s most popular social network, and since it is still privately-held employees there stand to make a fortune with their stock options when the company eventually goes public.