All Googlers Get 10% Raise
Move likely to cost firm more than $1B
By Matt Cantor,  Newser User
Posted Nov 10, 2010 7:10 AM CST
Google CEO Eric Schmidt gestures as he speaks at a Washington Ideas Forum, Friday, Oct. 1, 2010, at the Newseum in Washington.   (AP Photo/Manuel Balce Ceneta)

(Newser) – Google has given all its employees a little holiday surprise: a $1,000 bonus and a 10% raise starting next year, reports Henry Blodget at Business Insider. And, citing employee feedback, Google will convert a portion of their bonuses to their salary—though merit-based bonuses will still be awarded separately. And just to be swell, Google’s paying the taxes on the $1,000.

The $1,000 bonuses will cost Google some $20 million, and the 10% raises could run about $1 billion, Blodget calculates. What can we deduce from this? Three things: One, amid employee retention troubles, Google’s working hard to keep workers happy. Two, Google’s doing well. And three, “Google is still an awesome place to work.”