Apple Inc. is upping its compensation package and giving its U.S. retail employees a pay increase of 10 per cent or more in a bid to help them combat inflation and stave off a push to unionize across many of its stores.
Retail staff will see their wages rise to at least US$22 per hour, up from a previous US$20 minimum, the company told employees at the end of May, as reported by Bloomberg. The increase, set to take effect in July, “represents a 45 per cent increase in starting rates since 2018 and reflects our deep gratitude for the extraordinary work of our valued team members,” said the company.
The move comes as Apple hopes to stop unionization efforts across the U.S., said the report, noting the company’s retail chief, Deirdre O’Brien, recently warned employees about taking such a step.
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In other news, Microsoft Corp. is also boosting its global employees’ compensation amid inflation and a tight labour market. The organization is nearly doubling its budget for employee salaries and enhancing the range of stock compensation it gives some workers by at least 25 per cent, according to Bloomberg, which noted the move will mainly affect “early to mid-career employees.
“As we approach our annual total rewards process, we are making a significant additional investment this year to compensate our employees globally,” said the report. “While we have factored in the impact of inflation and rising cost of living, these changes also recognize our appreciation to our world-class talent who support our mission, culture and customers and partners.”
Read: Employers increasing salaries due to inflation, labour market challenges: survey