Amid layoffs, Google offers 300% salary hike to exceptional employee!

PTC Web Desk: In a jaw-dropping turn of events, Google has reportedly offered an astronomical 300 percent salary hike to an exceptional employee amidst a period of global layoffs. The revelation comes from Arvind Srinivas, CEO of the US-based startup Perplexity AI, who shared the astonishing story on the Big Technology podcast hosted by Alex Kantrowitz, as per a report published in India Today.

Srinivas, an alumnus of IIT Madras, recounted his attempt to lure an outstanding Google employee to join Perplexity AI. Traditionally, when an employee receives an outside job offer, one might expect a standard counteroffer or, in some cases, a graceful parting conversation. However, Google, in an unprecedented move, went above and beyond expectations, presenting the employee with a fourfold increase in salary, a whopping 300 percent raise.

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This revelation comes at a time when Google has been implementing widespread layoffs, affecting numerous employees globally over the past 1.5 months. The timing of such a substantial counteroffer is particularly intriguing against the backdrop of these recent reduction initiatives. Google has been streamlining its workforce, leading to job cuts in various departments, including Google Assistant, hardware, and central engineering.

The specifics of the counteroffer from Perplexity AI to the Google employee remain undisclosed, but the sheer magnitude of Google's response underscores its fierce determination to retain top-tier talent. Despite the competitive job market within Google and the ongoing wave of layoffs, the employee in question has opted to remain with the tech giant, accepting the remarkable 300 percent salary increase.

The industry has been buzzing with speculation and intrigue, trying to decipher the strategic rationale behind such a staggering counteroffer, especially during a period marked by a global economic downturn and heightened job market uncertainty. Google's move signals not only a commitment to retaining exceptional talent but also a recognition of the fiercely competitive landscape in the tech industry.

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It's worth noting that while Google has been trimming its workforce, the company has offered a lifeline to affected employees by allowing them to explore alternative positions within the organisation. However, the clock is ticking for these displaced workers, and unless they secure a new role within Google by April, they will be compelled to leave the company. This adds an extra layer of urgency to their job search and underscores the cutthroat competition within Google's internal job market.

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