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Apple to increase starting pay for U.S. workers

Stock Markets May 26, 2022 12:30PM ET
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© Reuters. A woman walks past an Apple logo in front of an Apple store in Saint-Herblain near Nantes, France, September 16, 2021. REUTERS/Stephane Mahe/Files

(Reuters) -Apple Inc will raise the starting pay for its U.S. employees, the iPhone maker said on Wednesday, as companies face a tight labor market and a surge in unionization efforts amid rising inflation.

The starting pay for the company's U.S. team members will rise to $22 per hour, or higher based upon the market, a 45% jump from 2018 levels, Apple (NASDAQ:AAPL) said in a statement to Reuters.

"This year as part of our annual performance review process, we're increasing our overall compensation budget," a company spokesperson said.

Apple has informed some workers their annual reviews would be advanced by three months and the new pay will take effect in early July, the Wall Street Journal, which first the changes in compensation, said.

Apple did not immediately respond to a request for further details on the compensation changes.

Cupertino, California-based Apple is known for its reticent culture, but last year some current and former workers began criticizing the company's working conditions online.

In April, workers at Apple's Atlanta store filed a petition to hold a union election, seeking to become the company's first U.S. store to unionize amid a wave of labor activity at other major firms.

Google (NASDAQ:GOOGL) and Microsoft (NASDAQ:MSFT) are among other tech companies that have revised performance reviews or adjusted pay this year as they fight to retain workers.

Apple to increase starting pay for U.S. workers
 

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