Google Surprises Employees With 10% Raise

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Google certainly knows about employer appreciation! The company is giving each of its 23,300 employees a 10% raise next year, as well as a tax-free $1000 holiday cash bonus.

Google has long been known for pampering its workers — offering them free food and other luxuries. But, the company decreased those benefits between 2008-2009 because of the economic downturn.

The bonuses and raises will certainly put a dent in their wallets, as well. Just the cash bonuses alone will cost the company $23 million (plus taxes), while the raise may cost Google around $1 billion a year. But, Google has prospered this year and can definitely afford to treat their employees. Revenue rose 23% to $21 billion through the first nine months of 2010. 

"While we don't typically comment on internal matters, we do believe that competitive compensation plans are important to the future of the company," Google spokesman Jordan Newman said in a Wednesday statement.

These generous raises may be a way for Google to keep its employers from being poached by competitors like Facebook.

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