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Google is giving all of its employees a 10 percent pay hike, however many said that this was a move to retain its employees. Today another news story broke which said that Google was actually offering about $3.5 million to one of its engineers to stop him from jumping ship to Facebook. About 12.5 percent of Facebook’s staff are former Google employees and Facebook is actually in hot pursuit of stealing Google’s top talent.
With a much smaller work force when compared to Google, Facebook has had tremendous success. Facebook reportedly gave an offer to this unnamed engineer which Google found out when the engineer put in his papers. Google executives immediately doubled the offer to keep the engineer with the company and not loose him to Facebook.
Not much is known about the engineer but it is speculated that the engineer was responsible for some innovative products at Google and played key roles in some of their R&D. Many people in the silicon valley believe that the much rumored Facebook’s initial public offering (IPO) is a big money maker and it is being rumored that Facebook was promising lots of stock to lure people into joining Facebook.