Google has given all of its 23,000 employees a pay hike, in a bid to stem defections to rival technology companies such as Facebook, according to a report.
The raise will become effective in January, according to The Wall Street Journal, quoting ‘people familiar with the matter’.
The report also reveals that roughly 10% of Facebook’s employees are Google veterans.
Chief Executive Eric Schmidt informed employees of the Mountain View, California-based company of the pay raise in an email, the Journal said.
“We want to make sure that you feel rewarded for your hard work,” Schmidt was quoted as saying. “We want to continue to attract the best people to Google.”
In September, Google, Apple, Intel and three other US technology giants agreed to settle charges they had illegally entered into agreements not to poach each other’s employees.
The Justice Department said the settlement would prevent Adobe, Apple, Google, Intel, Intuit and Pixar from forging so-called ‘no solicitation’ agreements for employees.
