How Apple's Alleged Immigrant Favoritism Led To A $25M DOJ Settlement
Portfolio Pulse from Ananya Gairola
Apple Inc. (NASDAQ:AAPL) has agreed to a $25 million settlement with the U.S. Department of Justice over allegations of discriminatory hiring practices. The company was accused of prioritizing immigrant workers over U.S. citizens and green card holders for certain roles, violating federal anti-discrimination laws. The settlement requires Apple to pay $6.75 million in civil penalties and $18.25 million to those affected. The company has admitted to the oversight and initiated a remediation plan to meet government regulations.
November 10, 2023 | 3:10 am
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Apple's $25 million settlement with the DOJ over alleged discriminatory hiring practices could impact the company's reputation and financials in the short term. However, the company's remediation plan may mitigate long-term effects.
The settlement is a significant financial burden and could harm Apple's reputation, potentially affecting its stock price in the short term. However, the company's swift response and remediation plan may help mitigate any long-term negative effects.
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