Some Apple engineers received a stock bonus to stay with the company

Bloomberg reports that Apple is offering stock bonuses to some engineers to prevent them from switching to companies like Meta.

apple park office n21

Last week, selected engineers working on chip, hardware and software design were told they would receive a stock bonus worth between $ 50,000 and $ 180,000. According to Bloomberg, this is “unusual and significant” for Apple.

Most engineers received shares valued between $ 80,000 and $ 120,000. These bonuses, provided in the form of restricted stock units, are meant to accumulate over a four-year period as long as employees stay at Apple and do not leave to work for other companies.

Apple told managers that bonuses will be provided to engineers as a reward for their achievements and to encourage them to do better and better. More likely, they’re designed to prevent companies like Meta, Facebook’s parent company, from stealing employees from Apple. In fact, Meta has hired a hundred engineers from Apple in recent months, although Apple has also hired a few employees from Meta.

Meta is hiring in Apple’s Augmented Reality, Artificial Intelligence and Engineering divisions. The company’s goal is to launch a smartwatch in the near future that can compete directly with the Apple Watch, and when Apple launches its AR / VR headset, it will be in direct competition with Meta’s Oculus virtual reality headsets.

Leave a Comment