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Apple Said To Be Giving Bonuses Of Up To $180,000 To Prevent Defections To Meta!!

Apple Said To Be Giving Updates: has given certain engineers unusual and significant stock awards in an effort to retain talent and avoid defections to tech rivals like Facebook’s Meta Platforms. According to people familiar with the situation, the company informed some engineers in silicon design, hardware, and select Last week, the software and operations teams of the motorcycle incentives were awarded as restricted inventory models. The shares will vest over a four-year period, giving employees an incentive to stay at Apple.

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In certain situations, bonuses have ranged from around $50,000 (roughly Rs. 37.35 lakh) to as much as $180,000 (nearly Rs. 1.34 crores). Many of the engineers received shares worth $80,000 (approximately Rs. 59.76 lakh), $100,000 (about Rs. 74.71 lakh), or $120,000 (roughly Rs. 89.66 lakh), according to the people, who asked not to be identified since the system is private. Managers instituted the perk as a reward for top performers.A Cupertino, California-based firm consultant declined to comment.

apple said to be giving bonuses

Apple is in a technology war with Silicon Valley and international competitors, with Meta posing a particular threat. In the last three months, Meta has hired roughly 100 Apple engineers, but it hasn’t been a one-way street: Apple has also poached key Meta employees. The two companies are more likely to become bitter rivals in the fields of augmented and virtual reality headsets and smartwatches, with each company anticipating major hardware releases over the next two years.

Apple’s usual compensation packages comprise a base salary, stock options, and a monetary bonus, although the bonuses aren’t included. According to the sources, Apple usually distributes cash bonuses to staff, but the evaluation of the recent stock allocations was unique and curiously timed.

They were able to reach around 10% to 20% of engineers in relevant areas.  departments.Some engineers have been irritated by the incentive scheme since they did not receive shares and believe that the choice route is prejudiced. A handful of the bonuses were worth as much as the annual inventory grant provided to some engineering supervisors. And if Apple’s inventory value continues to climb, their value will rise as well. The stock has gained 36% this year, putting the company’s market valuation at about $3 billion.

Meanwhile, Meta has intensified its efforts to recruit engineering talent from Apple’s augmented reality, synthetic intelligence, software, and hardware engineering teams. Because it appears to focused on hardware and the socalled metaverse, the social media behemoth, which runs Facebook, Instagram, and WhatsApp, has dangled significant wage increases.

A brain drain has also touched other areas, including Apple’s selfdriving car team. The company aims to maintain its engineering prowess as it works on a variety of nextgeneration devices, including automobiles, VR and AR headsets, and future iPhone versions.

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