What you need to know
- Apple retail employees are receiving a one-time bonus of up to $1000 next month.
- The company says that the bonuses are in recognition of worker's efforts during the pandemic.
In a rare move, Apple is giving its retail store employees a one-time bonus next month.
As reported by Bloomberg, the company will be rolling out one-time bonuses of up to $1000 for its retail workers. The bonuses are being presented in recognition of worker's efforts over the course of the pandemic.
The iPhone maker will give $1,000 to retail staff hired before March 31, while anyone who joined after that date will receive $500, according to people familiar with the situation. New workers for the holiday shopping season will get $200, said the people, who asked not to be identified because the matter isn't public. The payouts also will go to AppleCare and online sales workers as well.
According to the report, the last time Apple gave out this kind of a one-time bonus to employees was back in 2018 with stock.
The bonuses will be an unusual perk since Apple rarely gives companywide payouts. The last major one was $2,500 worth of restricted stock units in 2018. That bonus followed tax changes allowing Apple to bring back cash from offshore accounts at a lower cost. The new bonuses will be issued via cash in paychecks, rather than as stock units, the people said.
The announcement came as Apple CEO Tim Cook also criticized those within Apple who leak new products and the contents of internal meetings. Cook said that the company is trying to find out who is responsible for the leaks and that "people who leak confidential information do not belong." at Apple.
A representative for Apple declined to comment on the story from Bloomberg.