Apple Inc Pays Bonuses Up To $1,80,000 To Prevent Defections To Meta

New Delhi: In a latest development, Apple Inc. has issued unprecedented stock bonuses to top engineers to prevent defection to Meta. According to a latest report by Bloomberg, the company had, last week, informed engineers and software and operations groups that they will receive incentives in the form of bonuses ranging from $50,000 to $1,80,000 to stay at the company.Also Read – Bihar Reports First Omicron Case, 26-Year-Old Man Tests Positive in Patna’s Kidwaipuri

The rewards have been presented as a reward to the best performers, the report stated. Meta has hired around 100 engineers from Apple in the last few weeks and Apple has been trying to do the same. The battle between two of the biggest companies in the world has been getting more intense. Also Read – Pregnant Women Should Not Delay Covid Vaccination, Study Suggests

Stock Bonuses Unprecedented

According to the report, these kinds of incentives are unusual in Apple. The company often awards cash bonuses but stock bonuses of such magnitude are unprecedented. The value of the stocks given is expected to rise as the shares of Apple have been rising. The shares of the company have gained 36 per cent in the last year and Apple hit a market cap of about $3 trillion. Also Read – Covid-19 Tablet: New Tablets For Corona Launched In Hyderabad, Know It’s Price And Other Details Here | Must Watch

Meta, meanwhile, has increased the salaries of its employees to retain them. This all comes at a time when the company refocuses on AI-based augmented reality, Metaverse.

High Defections In Apple

Apple, however, has seen rising defections in the last few months. The change in the rules related to work from the office has led to many engineers leaving the company. Apple has been relatively harsher on its employees as compared to other tech giants, the report further added.

Corporate employees of the company are required to work at least three days a week, from the office. On the other hand, hardware engineers are required to attend the office four to five times a week. However, the company has recently said that they will allow the workers to work from home for the foreseeable future.

Meta has been relatively easy on the work-from-office norms.