News: Latest News
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance Pro.CalendarSectors 
All NewsEconomyCurrencies & ForexCryptocurrenciesCybersecurityPress Releases

Apple to increase starting pay for U.S. workers

05/26/2022 | 01:41am EDT
Apple logo at an Apple store in Saint-Herblain near Nantes

(Reuters) -Apple Inc will raise the starting pay for its U.S. employees, the iPhone maker said on Wednesday, as companies face a tight labor market and a surge in unionization efforts amid rising inflation.

The starting pay for the company's U.S. team members will rise to $22 per hour, or higher based upon the market, a 45% jump from 2018 levels, Apple said in a statement to Reuters.

"This year as part of our annual performance review process, we're increasing our overall compensation budget," a company spokesperson said.

Apple has informed some workers their annual reviews would be advanced by three months and the new pay will take effect in early July, the Wall Street Journal, which first the changes in compensation, said.

Apple did not immediately respond to a request for further details on the compensation changes.

Cupertino, California-based Apple is known for its reticent culture, but last year some current and former workers began criticizing the company's working conditions online.

In April, workers at Apple's Atlanta store filed a petition to hold a union election, seeking to become the company's first U.S. store to unionize amid a wave of labor activity at other major firms.

Google and Microsoft are among other tech companies that have revised performance reviews or adjusted pay this year as they fight to retain workers.

(Reporting by Tanvi Mehta in Bengaluru, Jahnavi Nidumolu and Juby Babu in Bengaluru; Editing by Sherry Jacob-Phillips and Sriraj Kalluvila)


© Reuters 2022
Latest news "Economy & Forex"
02:47aAustralians rally against overturning of Roe v. Wade
RE
01:55aIndonesia looks to raise palm oil export quota
RE
01:29aELON MUSK : Musk breaks silence on Twitter, posts a picture with the pope
RE
07/01Blasts rock Ukraine's Mykolaiv after missiles kill 21 near Odesa
RE
07/01Tropical storm Bonnie makes landfall near the Nicaragua-Costa Rica border
RE
07/01Berkshire Hathaway buys 9.9 million more Occidental shares, has 17.4% stake
RE
07/01Magnitude 5.9 earthquake strikes Japan's Hokkaido region - EMSC
RE
07/01Times Square among where New York may ban concealed guns
RE
07/01Indonesia looks to raise palm oil export quota
RE
07/01Ohio top court lets six-week abortion ban remain in effect
RE
Latest news "Economy & Forex"