Apple boosts starting pay for US workers to $22 per hour
Apple says starting pay has increased by 45% since 2018.Apple will raise the starting pay for its US employees, the iPhone maker said on Wednesday, as companies face a tight labor market and a surge in unionization efforts amid rising inflation.
The starting pay for the company's US team members will rise to $22 per hour, or higher based upon the market, a 45% jump from 2018 levels, Apple (AAPL) said in a statement to Reuters."This year as part of our annual performance review process, we're increasing our overall compensation budget," a company spokesperson said.Apple has informed some workers their annual reviews would be advanced by three months and the new pay will take effect in early July, the Wall Street Journal, which first reported the changes in compensation, said.Apple delays plan for Bay Area workers to be in office three days a weekApple did not immediately respond to a request for further details on the compensation changes.Read MoreCupertino, California-based Apple is known for its reticent culture, but last year some current and former workers began criticizing the company's working conditions online.In April, workers at Apple's Atlanta store filed a petition to hold a union election, seeking to become the company's first US store to unionize amid a wave of labor activity at other major firms. Google (GOOGL) and Microsoft (MSFT) are among other tech companies that have revised performance reviews or adjusted pay this year as they fight to retain workers.Click Here To Get Funded!