What you need to know
- Apple is reportedly handing out bonuses of up to $200,000 to try and keep its best engineers.
- Restricted stock units are being given to software and hardware engineers.
- Apple offered engineers a similar deal last year to avoid them switching to Meta.
Apple has reportedly handed out bonuses worth up to $200,000 in an attempt to keep some of the company's top engineering talent away from the competition. The new move echoes a similar one from the end of last year.
In a move reported by Bloomberg, Apple is said to have handed the bonuses out in the form of restricted stock units that would likely be tied to a besting schedule.
Both software and hardware engineers are said to be among those who have been handed the bonuses — bonuses that employees are calling "special retention grants" because of the reason they're being given. Apple is keen to ensure that its engineers stay put rather than move to companies like Facebook, Google, and many more.
It's thought that bonuses range from around $100,000 to $200,000.
The iPhone maker doled out the bonuses in recent days to a select group of employees in its software and hardware engineering departments, said the people, who asked not to be identified because the move isn't public. The rewards ranged from around $100,000 to upwards of $200,000 in restricted stock units, with some in the company referring to them as special retention grants.
Apple did something very similar last year, giving some engineers up to $180,000 in bonuses in an attempt to stave off advances from Meta, the parent company of Facebook, WhatsApp, and Instagram.
