Apple Cuts Back On Retail Employee Raises As Pandemic-Era Generosity Fades
Portfolio Pulse from Ananya Gairola
Apple Inc. has reportedly offered smaller pay raises to its retail employees this year, returning to pre-pandemic levels, with average annual raises of about 4%. This reduction also extends to AppleCare technical support employees. Most Apple salespeople in the U.S. now earn between $22 and $30 per hour. Apple has also issued restricted stock units and bonuses to its employees, although this year’s packages are generally capped at around $2,000.
September 22, 2023 | 3:45 am
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NEUTRAL IMPACT
Apple's decision to reduce pay raises for its retail employees could potentially impact employee morale and retention. However, it is unlikely to have a significant impact on the company's overall financial performance.
While the reduction in pay raises could potentially lead to dissatisfaction among Apple's retail employees, it is unlikely to have a significant impact on the company's overall financial performance. Apple's retail operations represent a relatively small portion of its overall revenue, and the company has a strong brand and product portfolio that is likely to continue driving sales.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 100
NEUTRAL IMPACT
Ford Motor Co. is not directly impacted by this news.
Ford Motor Co. is not mentioned in the context of Apple's decision to reduce pay raises for its retail employees. Therefore, this news is not relevant to Ford.
CONFIDENCE 100
IMPORTANCE 0
RELEVANCE 0
NEUTRAL IMPACT
General Motors is not directly impacted by this news.
General Motors is not mentioned in the context of Apple's decision to reduce pay raises for its retail employees. Therefore, this news is not relevant to General Motors.
CONFIDENCE 100
IMPORTANCE 0
RELEVANCE 0
NEUTRAL IMPACT
Stellantis is not directly impacted by this news.
Stellantis is not mentioned in the context of Apple's decision to reduce pay raises for its retail employees. Therefore, this news is not relevant to Stellantis.
CONFIDENCE 100
IMPORTANCE 0
RELEVANCE 0