Apple Inc. is boosting pay for workers due to rising inflation, tight labor market and unionization pushes among hourly store employees.
The iPhone maker told employees in an email that the company is increasing its compensation budget. Beginning pay for hourly workers in the US will rise to $22 an hour, or higher based on the market, a 45% increase from 2018. Starting salaries in the U.S. are expected to increase.
A spokesman for Apple AAPL said that the team's support and retention of the best team members in the world enables us to deliver the best, most innovative products and services for our customers. We have increased our compensation budget this year as part of our annual performance review process. Apple's plans are just the latest of companies trying to keep talent. Microsoft Corp. MSFT told workers this month that the company would double its global budget for merit-based salary raises.
Apple has been in a lot of trouble with labor unrest in the past few months. The discontent has spanned from front-line store retail workers agitating for unionization to salaried engineers unhappy with the company's plans to return to the office.
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