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Apple employees to get $2,500 bonuses

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Apple employees are set to receive bonuses of $2,500 (£1,800) each as the company begins returning its overseas cash to the US.

According to Bloomberg, the bonuses are available for almost all of Apple’s 120,000 employees.

Only those at or above director level will not receive the reward, which will otherwise be given to staff across all departments, including retail stores, regardless of whether they are working full or part-time.
The bonuses are to be issued through stock grants to staff worldwide, as Apple repatriates its cash to the US where it has committed to investing $30bn (£21bn) over the next five years.
In an email to employees seen by Bloomberg, the company’s chief executive Tim Cook said the bonuses were evidence of his “confidence in Apple’s future”.
It follows the passing of President Trump’s sweeping tax reform, which has cut corporate tax from 35% to 21%.

Image: Apple has been targeted by tax evasion protesters in France
The bonus is worth more than two iPhone X devices if purchased at the US price of $999 (£722), rather than their UK price of £999 ($1,380).

:: The Wider Impact Of Taking A Bite From Apple
Apple also plans to make a one-time payment of $38bn (£27bn) to the US tax authorities as it moves its cash into the country.
The company has faced much criticism over its tax affairs, handing over an extra £137m to authorities in the UK following a probe into its tax payments going back years.

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It has faced protests in France and investigations by European Union regulators.
The European Commission has forced the Irish government to claw back £11bn in back taxes from Apple, ruling benefits the company received under Dublin’s low corporate tax structure were unfair and illegal.

Source: SKY