Report: Apple Employees Unhappy With Bonuses Report: Apple Employees Unhappy With Bonuses – NTK Network

Report: Apple Employees Unhappy With Bonuses

Employees would have preferred free lunches to the $2,500 stock grants they received.

By NTK Staff | 01.19.2018 @2:30pm
Report: Apple Employees Unhappy With Bonuses

No good deed goes unpunished, and nowhere is that more true than finicky Silicon Valley. Axios is reporting that employees, particularly engineers and those working at the Cupertino headquarters, are displeased with CEO Tim Cook’s decision to give $2,500 stock grants to all employees.

While retail employees around the country are likely pleased with Apple’s decision, Axios notes that $2,500 doesn’t go very far in Silicon Valley. And perhaps worse still for the liberal company, the move gives off the appearance of “playing into President Trump’s hands”:

It sounds nice, but $2,500 (before taxes) doesn’t go very far in Silicon Valley. Plus the restricted stock grant vests over three years, meaning the first third won’t vest until next April and employees will have to stay at Apple until 2021 to get the full $2,500 in stock.

Free lunches (à la Google) might actually have been more welcome. Some employees were actually more jazzed about the increased match on charitable contributions than the stock grants. (Apple is now donating $2 for each $1 in employee charitable contributions, up to $10,000.)

Cook is taking fire from both sides of the political aisle. Cook, careful not to mention Republicans or Trump during the $350 billion investment and bonuses announcement, angered some on the right for not acknowledging tax reform’s role in Apple’s decision.

Meanwhile, on the left Democrats are upset that residents of high-tax states like California could see their tax bills go up due to the $10,000 cap on state and local tax deductions.

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