Reportedly, Apple Inc. (AAPL) has issued significant and unusual stock bonuses to some top-performing engineers to retain talent and avoid defections to tech rivals such as Facebook owner Meta Platforms Inc (FB).
The bonuses came as a huge surprise to those who received them, having ranged from about $50,000 to as much as $180,000 in some cases. As per sources, many of the engineers received amounts of roughly $80,000, $100,000, or $120,000 in share.
With Meta emerging as an upcoming threat, Apple is making a talent war with companies in Silicon Valley and beyond. In the last few months, Meta has hired about 100 engineers from Apple, with Apple also taking away key Meta employees. The two industry giants are likely to become fierce rivals in augmented- and virtual-reality headsets and smartwatches, with both planning major hardware releases over the next two years. People familiar with the matter informed that Apple sometimes awards additional cash bonuses to employees, but the size of the latest stock grants was not usual and surprisingly timed. They were given to about 10% to 20% of engineers in applicable divisions.
The social media giant, managing Facebook, Instagram, and WhatsApp, has included significant salary raises as it looks to refocus around hardware and the so-called metaverse.
Dow 30 component Apple (AAPL) has revolutionized personal technology with the introduction of the Macintosh in 1984. Today Apple leads the world in innovation with iPhone, iPad, Mac, Apple Watch, and Apple TV. Apple’s four software platforms — iOS, macOS, watchOS, and tvOS — provide seamless experiences across all Apple devices and empower people with breakthrough services including the App Store, Apple Music, Apple Pay, and iCloud. Apple’s more than 100,000 employees are dedicated to making the best products on earth, and to “leaving the world better than they found it. To learn more about Apple (AAPL) and track its ongoing progress at Vista Partners Apple (AAPL), Coverage Page.
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