Apple reduces raises given to retail employees after weak iPhone quarter
Apple reduces raises given to retail employees after weak iPhone quarter
The smartphone market and general economy have slowed down post-pandemic, and Apple is reacting with a lower raise for employees in 2023 versus 2022.
Apple reduces raises given to retail employees after weak iPhone quarter::The smartphone market and general economy have slowed down post-pandemic, and Apple is reacting with a lower raise for employees in 2023 versus 2022.
The most valuable company in history with a market cap of $2.96 TRILLION dollars is screwing their employees to save an otherwise negligible amount of cash? Steve Jobs would be proud.
Executives will get higher than inflation bonuses year on year and employees suffer because of the executives raises and lack of innovation.
I love how the title is that they’re lowering raises after a bad quarter, but then say that they’re going back to their normal raise structure they have always had and that 2022 was a higher than normal raise year because they raised the minimum wage by 10% on top of higher raises due to higher inflation.
They didn’t lower the minimum raise retail employees can get, they just lowered the maximum raise they could.
The other important part here is that inflation is lower this year than last. So the extra high raises last year may have helped keep up but aren’t needed as much.
As far as I can tell there’s no direct relationship between iPhone sales and the change in raises. If anything I’d expect low sales to lead to layoffs or closing stores.
The richest company on the Earth everyone.