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In a shift from previous years, Apple is providing its retail employees with raises ranging from 2 to 5 percent in 2023. This marks a slight decrease from the generous pay bumps extended during the pandemic. Reports from Bloomberg indicate that the average annual raise hovers around four percent, encompassing both retail and AppleCare technical support staff.
These pay hikes coincide with the annual employee reviews conducted in the autumn season. Last year, Apple took a bolder approach, offering substantial raises of eight to ten percent to address labor shortages and quell unionization endeavors. However, as Bloomberg highlights, such campaigns have not gained significant traction, and wage growth in the United States is on a downward trend.
Presently, a majority of Apple’s U.S.-based retail workforce commands an hourly wage in the range of $22 to $30. Additionally, employees are granted restricted stock units with an annual valuation of up to $2,000, demonstrating Apple’s commitment to providing competitive compensation packages.
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In light of the prevailing economic climate, Apple’s decision to moderate the size of raises in 2023 signals a strategic move to balance the scales. This measured approach is a response to changing labor dynamics and evolving market conditions.
