CAPE TOWN - Multinational technology conglomerate, Apple is giving its employees R30 632 bonuses in restricted stock units after a new US tax law has been passed.
Most of Apple’s employees will reportedly benefit from the stock incentive in coming months.
Apple employees below a senior level title of “director’’ will allegedly also reap in the bonus.
Apple's move to give their employees a whopping bonus is also seen as a way for the company to bring back cash to the US.
According to online site, 9to5Mac, Apple sent to its employees regarding the bonus, where the company says that it is investing in their most fundamental resource, its people.
(Letter sent to employees:)
This morning we announced a new set of investments Apple will be making over the next several years, including expanding some of our existing campuses and establishing a new one. We’re also extending our efforts in support of coding education, ConnectED and STEAM programs. I encourage you to read about these announcements on AppleWeb.
I’m excited to let you know that we’re also increasing our investment in our most important resource — our people. You are the heart and soul of Apple and we want you to share in the success made possible through your efforts. Your dedication helps Apple make the best products in the world, surprise and delight our customers, and ultimately make the world a better place.
To show our support for our team and our confidence in Apple’s future, we’ll be issuing a grant of $2,500 in restricted stock units to all individual contributors and management up to and including Senior Managers worldwide. Both full-time and part-time employees across all aspects of Apple’s business are eligible. Details are available on AppleWeb.
We also know how much our employees value giving back to the communities where we all work and live. I’m happy to announce that starting immediately and running through the end of 2018, Apple will match all employee charitable donations, up to $10,000 annually, at a rate of two to one. In addition, Apple will double the amount we match for each hour you donate your time. Last year, your generosity helped people around the world through causes that are important to you. I’m proud that this year we’ll be able to build on that tradition of giving.
Apple’s success comes from our people and I am proud to work alongside each of you. On behalf of the Executive Team, thank you for your hard work and dedication.
The recent drop in the US tax rate from to 21% from 35% is seen as the reason for Apple to bring most of their cash back to the US.
Apple is amongst other companies who announced plans for similar bonuses. These include AT&T and Comcast.
Meanwhile, drone footage recently revealed Apple’s new $5 billion campus, Apple Park.
The campus was Apple founder, Steve’s Job’s vision.
Before his death in 2011, Apple co-founder Steve Jobs set out to create one of the most futuristic buildings ever created. 'Steve was exhilarated, and inspired, by the California landscape, by its light and its expansiveness,' said Laurene Powell Jobs.
'It was his favourite setting for thought. Apple Park captures his spirit uncannily well.'
Apple Park is the new corporate headquarters of Apple and opened to employees in April 2017, despite construction that was still underway.
Plans to announce the location of a second campus this year which will hire an additional 20 000 employees is allegedly in the pipeline.
- BUSINESS REPORT ONLINE