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DOJ Investigates Big Tech's Hiring Practices

Jun 04, 2009, 16:02 (1 Talkback[s])
(Other stories by Andy Patrizio)

"The U.S. Department of Justice has begun an investigation into the hiring practices of a number of Silicon Valley firms, including Yahoo and Apple, alleging collusion in hiring practices, according to several media reports.

"Citing unnamed sources, stories in the Washington Post and New York Times say that the problem stems from an agreement among the firms not to poach each other's high level talent. By doing so, this keeps wages down because there isn't true competitive bidding for talent as firms try to outbid people for talent.

"The DOJ would not confirm or deny the reports, and calls to Yahoo (NASDAQ: YHOO) and Apple (NASDAQ: AAPL) were not returned. Also named in the investigation is biotech giant Genentech."

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