Happy holidays, says Google! $1,000 in cash goes to all of you employees of the evil empire that is the Googleplex as a "holiday bonus" and you will also receive a 2011 salary raise of at least 10% starting January 1, 2011! Not only that, but you will also get an extra raise equal to your target bonus for the year and be eligible for bonus "merit increases" based on how awesome you do.
Think about this, $1,000 bonus. Google has about 20,000 employees, so that's over $20 million! How generous of them to do that as well as spend over another $20 billion - $1 billion a year - to offer the 10% or more raise. Granted, this cost will be decreased by bonuses and stock option grants. See, not all companies are seeing a recession. Intel and Google are doing pretty well!
How do we know all of this? Someone leaked a memo from Google about it! And it wasn't supposed to be sent out to anyone other than employees of the company. Oops. And Google is very mad about it.
Want to see the memo and see what's happened since the leak? Hit the break.
Google CEO Eric Schmidt sent this memo out to his employees.
CONFIDENTIAL: INTERNAL ONLY
GOOGLERS ONLY (FULL TIME AND PART TIME EMPLOYEES)
I'm pleased to share some very, very good news with Googlers worldwide. But first let me say, on behalf of everyone on the management team, that we believe we have the best employees in the world. Period. The brightest, most capable group of this size ever assembled. It's why I'm excited to come to work every day--and I'm sure you feel the same way. We want to make sure that you feel rewarded for your hard work, and we want to continue to attract the best people to Google.
So that is why we've decided... to give all of you a 10% raise, effective January 1st. This salary increase is global and across the board--everyone gets a raise, no matter their level, to recognize the contribution that each and every one of you makes to Google.
There's more. We've heard from your feedback on Googlegeist and other surveys that salary is more important to you than any other component of pay (i.e., bonus and equity). To address that, we're moving a portion of your bonus into your base salary, so now it's income you can count on, every time you get your paycheck. That's also effective January 1st. You'll be receiving an email shortly with further details about these changes to your compensation. And one last thing... today we're announcing that everyone will get a holiday cash bonus, too.
Googlers, you are what makes this company great, and our goal here is to recognize you for your contribution, in a way that's meaningful to you. Thank you for all that you do, and for making Google a place where magic happens.
Well, this memo was extremely confidential. Google has not commented on the issue but, according to CNNMoney, Google has notified its staff that it has terminated the leaker, apparently an engineer. We didn't expect to have a memo sent to 20,000+ employees kept private did we? Considering Google has been worried about retention and keeping their employees happy, this seems like something you'd want released so people would know about it. Silly, silly Google.