Workers at Google net 10pc pay hikes and bonuses
Published 11/11/2010 | 05:00
Thousands of workers at search engine Google are in for a Christmas boost -- a pay rise averaging €5,000 per person and a bonus of over €700.
The 10pc pay increase will be paid to the 2,000 Irish Google workers in January and they will also receive the bonus before the end of the year, it emerged last night.
Google chief executive Eric Schmidt broke the news to lucky staff in an email.
"We want to make sure that you feel rewarded for your hard work," he wrote in the message which was later leaked.
"We want to continue to attract the best people to Google," he said.
Google's European headquarters is located in Dublin and the firm recently announced 250 new jobs, bringing the total to just under 2,000.
The average annual salary in Google Ireland is €50,000, it is understood.
The January pay hike comes on the back of good financial results from the internet firm and as it ramps up its battle with technology competitors like Facebook in a fight to secure talented staff.
About 10pc of Facebook's employees are Google veterans and other technology firms have also poached people from the internet search firm.
All of the company's 20,000 full and part-time workers will receive the pay hike and bonus.
A spokesperson for the operations here would not comment directly on the perks.
"While we don't typically comment on internal matters, we do believe that competitive compensation plans are important to the future of the company," she said.
Last month, Google's chief finance officer said the internet industry is waging a "war for talent".
Over the past year, several former Google executives who worked in the advertising and software divisions have joined Facebook.
The company has also begun testing a mathematical formula designed to try and predict which employees are most likely to leave based on factors like staff reviews.
This is not the first time the company has boosted staff morale through payments.
In 2009, it re-priced millions of employee share options whose value had been hit when the stock fell between 2007 and 2009.
The shares have since recovered, and closed last night at over $600 (€436).
Earlier this year, Google Ireland reported a near five-fold increase in profit for 2009.
The company made a profit before tax of €47.5m in 2009, compared with €10m in 2008 on the back of "strong growth" in the advertising market.