Thursday, 18 January 2018

Apple employees to get bonuses of $2,500 in stock, says chief executive Tim Cook



Apple employees are set to receive bonuses of $2,500 (£1,800) each as the company begins returning its overseas cash to the US.
 
According to Bloomberg, the bonuses are available for almost all of Apple's 120,000 employees.
 
 
Only those at or above director level will not receive the reward, which will otherwise be given to staff across all departments, including retail stores, regardless of whether they are working full or part-time.


The bonuses are to be issued through stock grants to staff worldwide, as Apple repatriates its cash to the US where it has committed to investing $30bn (£21bn) over the next five years.


In an email to employees seen by Bloomberg, the company's chief executive Tim Cook said the bonuses were evidence of his "confidence in Apple's future".


It follows the passing of President Trump's sweeping tax reform, which has cut corporate tax from 35% to 21%.




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