Google Raise & Bonus For Employees
Google Raise & Bonus For Employees – It is no wonder why Google is among people’s favorite places to work in the entire world. Recently it has decided to give an unprecedented 10% raise to each one of its employees as well as a $1,000 cash bonus for the holiday season. Google will be paying all of the taxes on the bonus money as well as a raise which will end up being the same as their target year-end bonus. The raise and holiday bonus figures where confirmed when Eric Schmidt, CEO of Google.The CEO commented that he believes salary is in fact more important than other financial incentives which are commonly given out by larger companies.
The raise becomes effective on January 1st, 2011. An internal memo stated that all Google employees would get a salary raise and be sent detailed instructions on some of the changes which are being made regarding their bonuses and overall yearly pay. Although for the employees of Google it is nothing but good news, it means a fairly steep for the California-based company. Because it has more than 23,000 employees total, it means a lot of money, around $23 million for the bonuses alone, which is not including tax. According to the earning report for the search engine company, Google can afford to make such a move for the sake of its employees.