Apple gives stock worth $2500 to its employees; plans to hire in India

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Both full-time and part-time employees of the Company, below the level of director, will be eligible for the bonus stocks.

It’s a new-year bonanza for Apple employees! The Company has declared that it will issue a bonus of $2500 worth of restricted stock units to its employees.

This benefit is not only meant for employees in the US, but for all employees from across the world. Both part-time and full-time personnel, below the level of director, will be eligible for the bonus stock units.

The offer came into play after the introduction of the new tax law. Apple will start issuing stock grants to most employees worldwide in the coming months. The Company has over 120,000 employees, including those at its retail stores.

Apple has also said that it will bring back most of its cash from overseas and spend $30 billion in the US over the next five years—funding an additional technical-support campus, data centres and 20,000 new employees.

However, India is still on high priority for the Company. Apple is developing various features—support for Hindi dictation and new language keyboards on iOS11, support for local traffic in maps and up-to-date cricket scores and statistics by simply asking Siri, for Indian customers— which will need local talent, and thus create over 4,000 jobs. While Apple had launched a first-of-its-kind App Accelerator in Bengaluru, last year, the new jobs will come up in its Hyderabad centre.

The new tax regime will see companies, such as AT&T Inc., Comcast Corp., JetBlue Airways Corp. and Wal-Mart Stores Inc. also giving away bonus stocks.

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