Google gives employees 10% pay rise

As if seeing off another rival didn't bring enough cheer to Google, the search giant has offered each and every one of its employees a whopping 10% pay rise, starting in January 2011.

In a leaked memo from CEO Eric Schmidt, Google workers were also informed of a company-wide tax-free 'holiday cash bonus' of $1000. According to Valleywag, however, these cash boosts will see employees' bonuses and stock option grants reduced somewhat.

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