Search giant Google has announced that it “has given all its employees a salary increase of 10% or more, as well as a $1,000 cash holiday bonus.” To put that in perspective, they’ll have to shell out $23-million in just bonuses alone to its 23,000 employees. Here’s what CEO Eric Schmidt has to say:

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.

[via Mashable]