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Apple Gives Employees $2,500 Bonuses After New Tax Law

Apple Inc.. Told workers Wednesday it’s devoting a bonus of $2,500 worth of inventory units, after the debut of the new U.S. tax legislation, according to people knowledgeable about the issue.

The iPhone maker will start issuing stock grants to most workers worldwide in the coming months, said the people, who asked not to be identified since they weren’t authorized to speak publicly. The move comes on the exact same day Apple said it would bring back most of its money from overseas and invest $30 billion from the U.S. over the subsequent five decades, funding another technical support campus, information centers and 20,000 new workers.

Wednesday, Apple confirmed the bonuses in response. The Cupertino, California-based company joins a growing list of American businesses that have observed that the debut of corporate-friendly tax legislation with one-time bonuses for employees. AT&T Inc.. , Comcast Corp.. , JetBlue Airways Corp.. and Wal-Mart Stores Inc.. Also said they were providing bonuses.

In an email to employees reviewed by Bloomberg, Apple Chief Executive Officer Tim Cook said the movement demonstrated his “confidence in Apple’s future” and that both full-time and part-time workers across all departments are elgible. Cook also said Apple would contribute #x2019; s donations up to $ 10,000 & the sum of each employee, during the year’s close.

Apple workers below a senior-level known as director will be eligible for stock units. The company has more than 120,000 employees, such as those at its own stores.

    Read: http://www.bloomberg.com/

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