- Apple is hiking the salaries of its workers in the US by 10 percent or more.
- Apple’s move to increase salaries comes after several workers complained about the working conditions.
- The company had previously hiked the salaries of its employees in February 2022.
Apple is hiking the salaries of its workers in the US by 10 percent or more.
Apple is raising salaries for workers in the US by 10 percent or more as it faces a tight labor market and the spread of unionization efforts across its retail stores.
The California-based company is expanding its overall compensation budget this year, it said in a statement on Wednesday.
The tech giant is expanding its overall compensation budget this year, it said in a statement on Wednesday (May 25). It will hike the minimum hourly pay for its staff to at least US$22 (S$30), up 10 percent from last year. The move follows a pay bump in February after inflation woes and complaints from some employees about working conditions during the Covid-19 pandemic.
Apple’s move to increase salaries comes after several workers complained
US tech companies are battling a shortage of talent after many chose flexible options or left the workforce during the pandemic. Software maker Microsoft is among those spending more aggressively to stay competitive, planning to nearly double its budget for salary increases this year in an effort to retain employees.
The pay of its chief executive, Tim Cook, in 2021 was nearly $100 million (roughly Rs. 760 crores) thanks to stock awards or about 1,447 times that of the average employee.
Apple recently introduced a new feature that will allow businesses to accept credit card and digital payments with just a tap on their iPhones, bypassing hardware systems such as Block’s Square terminals.
The feature, to be launched later this year, will use near field communications (NFC) technology for making all kinds of payments, including between iPhones, Apple said on Tuesday. The tech giant added that it would not know what was being purchased or who was buying it, stressing on the services privacy feature.
Apple had previously hiked the salaries of its employees in February 2022
Companies often announce improvements while battling unionization campaigns, and by doing so, it may interfere with employees’ free choice, Seattle University labor law professor Charlotte Garden said in an email.
“The risk is that workers perceive that keeping the improvements is contingent on voting against union representation and that if they vote for the union, the company will play hardball.”
Fintech services Stripe and Shopify Point will be the first to offer the “Tap to Pay” feature to business customers in the spring of 2022 in the US, the company said in a statement.
“Whether you’re a salesperson at an internet-first retailer or an individual entrepreneur, you can soon accept contactless payments on a device that’s already in your pocket: your iPhone,” said Billy Alvarado, Stripe’s chief business officer.
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