The Republican Tax Law Prompts Apple to give Bonuses of $2,500 in Stock to most Global Employees
Wow, what a day for Apple! First they announced a mammoth investment in the American Economy worth over $350 Billion over the next five years, then we hear about Cook in Reno at a ground breaking ceremony of a new shipping and receiving facility and now a plan to give employees $2,500 worth of stock as a bonus for massive tax break they received by the Republican Tax Law signed into law in December. It's definitely a day to remember in Apple's history books.
On December 22, Patently Apple posted a report titled 'Silicon Valley Workers will benefit from the new Tax Cuts and Maybe, Politics aside, Apple will hand out extra Bonuses too." The report noted that companies like AT&T, Comcast, Boeing, Wells Fargo, Fifth Third Bancorp and others are going to be giving employees a nice bonus of $1,000 in celebration of the tax cuts and raise the minimum wage they pay to $15.00.
The report concluded by stating: "Here's to hoping that Cook will put politics aside and join in the celebration of the tax cuts for business that he was hoping for and announce a nice added bonus for Apple employees." Well, that just happened!
A new Bloomberg report claims that "Apple Inc. told employees Wednesday that it's issuing a bonus of $2,500 worth of restricted stock units, following the introduction of the new U.S. tax law.
In an email to employees reviewed by Bloomberg, Apple Chief Executive Officer Tim Cook said the move demonstrated his "confidence in Apple's future" and that both full-time and part-time employees across all departments are elIgible.
The iPhone maker will begin issuing stock grants to most employees worldwide in the coming months, said the people, who asked not to be identified because they weren't authorized to speak publicly.
The move comes on the same day Apple said it would bring back most of its cash from overseas.
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