Beyond the $350 billion capital plan it has set out for the next five years, Apple has confirmed to Bloomberg that it is also giving most of its employees a one-time bonus of $2,500 in the form of restricted stock units. This comes in the wake of corporate tax reform in the United States bringing the rate down from 35 percent to 21 percent.
A source within the company passed along an email from CEO Tim Cook to staff saying that full-time and part-time staff in all departments who rank below a “senior” title level were eligible for the bonus and that it would offer a twice-over match for any employee’s charitable donations up to $10,000 for the year.
Apple is the latest company to offer such a bonus to employees with AT&T, Comcast, JetBlue and Wal-Mart also doing so. Some of those companies have paired those bonuses with job cuts and other personnel budget reductions, but we have not heard of supplementary plans of the nature from Apple.
Cook told ABC News in an interview broadcast today as he acknowledged that individuals got a tax cut as well that the “corporate part” of the reform package will be a boon for jobs and the economy at large. He declined to pass along any of his company’s savings to consumers, taking the iPhone as a prime example.
“Tim Cook told me that the phone costs what the innovation inside of it costs and he believes it’s at the right price for now,” reporter Rebecca Jarvis said on ABC World News Tonight with David Muir.