- There are reports that Apple Inc (NASDAQ: AAPL) has notified employees that it is increasing the starting pay for hourly workers to a minimum of $22 per hour. These are the details.
There are reports that Apple Inc (NASDAQ: AAPL) has notified employees that it is increasing the starting pay for hourly workers to a minimum of $22 per hour and even higher for certain markets, according to The Wall Street Journal. In order to be able to retain and hire more talent while also accounting for inflation, Apple has been pressured to increase the pay.
This new starting wage is considered a 45% increase compared to 2018. And this will mostly benefit the company’s retail workers. Plus Apple’s salaried workers will also start seeing pay increases.
“Supporting and retaining the best team members in the world enables us to deliver the best, most innovative, products and services for our customers,” said an Apple spokesman in a statement via MacRumors. “This year as part of our annual performance review process, we’re increasing our overall compensation budget.”
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