Bonuses of up to $200,000 have allegedly been given out by Apple in an effort to dissuade some of the company’s best technical talent from joining the competition. The new strategy is based on a similar one made towards the end of the year.
According to Bloomberg, Apple paid out incentives in the form of restricted stock units, which are presumably subject to a performance benchmarking process.
Employees are dubbing the incentives “special retention grants” because of the reason they’re being offered to software and hardware developers alike. Apple wants to keep its engineers in-house rather than allowing them to join Facebook, Google, and other tech giants.
Bonuses are often in the $100,000 to $200,000 range.
The iPhone maker doled out the bonuses in recent days to a select group of employees in its software and hardware engineering departments, said the people, who asked not to be identified because the move isn’t public. The rewards ranged from around $100,000 to upwards of $200,000 in restricted stock units, with some in the company referring to them as special retention grants.
To combat Meta, the parent company of Facebook, WhatsApp, and Instagram, Apple took a same step last year, awarding incentives of up to $180,000 to some of its developers.
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