- Apple gave bonus up to 1.35 crores to some engineers
- Unique way is adopted to stop going to another company
- Apple and Meta are in a race to grab employees
- Recently, about 100 engineers of Apple have joined Facebook.
Apple Inc., the world’s most valuable company, has taken a unique approach to prevent its employees from moving to another company. The company has given a stock bonus of more than Rs 1 crore to some of its selected engineers. Its purpose is to prevent them from moving to rival companies like Facebook (Meta Platforms Inc.).
The iPhone maker told some engineers in the Silicon Design, Hardware, Software and Operations group last week that they were being offered bonuses, according to Bloomberg. He has been given a bonus of $ 50,000 to $180,000 (Rs 1.35 crore). According to experts, most engineers have been given bonuses of $80,000, $100,000 or $120,000 in the form of shares.
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Tough competition between Apple and Facebook
Company representatives declined to comment on this. Silicon Valley tech companies, especially Apple and Meta, are competing to grab talented employees. In the past few months, nearly 100 Apple engineers have joined Mark Zuckerberg’s company. However, many Meta employees have recently joined Apple. In the next two years, both the companies have planned big launches. Especially in augmented and virtual-reality headsets and smartwatches, there can be a strong competition between the two.
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It is not part of Apple’s normal package. The company sometimes gives additional cash bonus to its employees. But this time the stock bonus given by the company has surprised the experts. Even the engineers who received the bonus themselves did not expect this. This bonus has been given to 10 to 20 percent of the engineers in the applicable divisions. However, the engineers who have not received the bonus have called the process arbitrary.