Apple employees to get $2,500 in bonus after new US tax law

Both full-time and part-time employees across all aspects of Apple’s business are eligible for the grant.

  • Published: January 18, 2018 11:48 AM IST

Following the roll-out of the new tax law in the US, which cuts the corporate tax rate from 35 percent to 21 percent, Apple announced that it would be bringing most of its cash back to the country, and invest in its most important resource – it’s people. In a letter to the employees, Apple CEO Tim Cook announced the company’s plan of giving employees $2,500 bonuses in restricted stock units. The stock will be granted to most employees in the coming months.

Cook wrote, “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.”

He also mentioned the company’s other investment plans for the next several years. One of the most interesting investment will be in the form of a new campus. Apple recently opened the gates of its spaceship-like campus where the inaugural Apple iPhone X launch event was held.

Apple will also match all employee charitable donations, up to $10,000 annually at the rate of 2:1. The company will also double the amount it matches for each hour the employee donates their time. You can read the full text of the letter obtained by 9to5Mac. The tax revision has prompted not only Apple, but also other companies such as AT&T and Comcast to announce similar bonuses for their employees.

On a separate note, Cook reiterated that Apple was sorry for not communicating clearly to its customers about slowing down the aged iPhones. He said that the reason why the step was taken was to avoid an unhealthy battery operating on an iPhone that could lead it to shut down unexpectedly.

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  • Published Date: January 18, 2018 11:48 AM IST