NTT offers $1m to lure scientists
Telecom giant NTT Group is offering record pay to hire top scientists as it looks to match some of the basic research prowess of global powerhouses including Alphabet and Apple.
The former Japanese telephone monopoly has set annual salaries of as much as $1m (€904,130) for researchers at its Palo Alto, California labs, said Kazuhiro Gomi, president of its research arm. That is more than the company pays its CEO, Jun Sawada, and is a rare step for a traditional Japanese group like NTT.
The increased investment in basic science comes as NTT regroups its businesses to focus more on cloud computing services and data centres, amid a dimming outlook for profit from its mainstay mobile phone carrier. Having star scientists on the lab's payroll will help the group draw better technology workers and partners, as it wages a war for the top talent it needs to expand globally, Mr Gomi said.
"We are competing with companies like Google and Apple," he added.
Please log in or register with Independent.ie for free access to this article.