Apple is slowing the rate of raises it is giving to retail employees this year, according to a new report from Bloomberg. The report explains that Apple has revealed “average annual raises” of roughly 4% for this year, returning to what was normal before raises increased last year.
Bloomberg explains that the range of the raises revealed this week starts at around 2% and maxes out at 5% for 2023. For comparison’s sake, raises in 2022 were between 8% and 10% as Apple battled “labor shortages and a budding unionization effort.” Thus far, only two Apple Stores have successfully unionized.
Today’s report also points to slower wage growth in the US economy this year, as well as a slowdown in inflation as reasons for the lower raises this year.
Some more details from the report:
In the US, most Apple salespeople are now getting paid $22 to $30 an hour, while AppleCare roles can bring in slightly more. The Cupertino, California-based company also issues restricted stock units annually to both categories of employee. In most cases, those packages topped out at around $2,000 this year. The iPhone maker issued rare bonuses for some workers as well.
The same raise is also applicable to AppleCare technical support employees, again marking a return to normal after larger pay raises last year.
Follow Chance: Threads, Twitter, Instagram, and Mastodon.
FTC: We use income earning auto affiliate links. More.
Comments