Apple engineers got bonus up to Rs 1.34 crore, Facebook is the reason


Apple engineers have been leaving the company for a long time. Some cases have come to light recently, in which important engineers associated with Apple’s car project have resigned from the company. To retain such talent, Apple has issued stock bonuses to some engineers. Last week, the company explained the out-of-cycle bonus to select engineers in silicon design, hardware, and software and operations. According to some people with knowledge of the matter, these bonuses are being issued in the form of stock units. The shares are held for more than four years, so that the engineers remain with Apple. It is worth noting that in the last few months, Facebook’s parent company Meta has given jobs to about 100 engineers of Apple.

According to a Bloomberg report, this was no less than a surprise for the bonus recipients. Some engineers got stock bonuses ranging from around $50,000 (approximately Rs 37.35 lakh) to $180,000 (approximately Rs 1.34 crore). At the same time, several engineers received share amounts of around $80,000 (approximately Rs 59.76 lakh), $100,000 (approximately Rs 74.71 lakh), and $120,000 (approximately Rs 89.66). Some of the stock bonus recipients gave this information, but did not make their identities public. It is being told that this bonus has been given by the managers to the high performers.

The company declined to comment on the matter. In Silicon Valley, California, there is a war between companies over talent. Facebook-owned Meta Meta is emerging as a threat to Apple. Meta has hired nearly 100 Apple engineers over the past few months. However, Apple has also drawn some Meta employees to its side.

Both the companies may become each other’s competitors in some categories in the next two years. These mainly include augmented and virtual reality headsets and smartwatches. Facebook’s Meta is also planning to enter the market with these products. That is why both the companies are offering each other to the talent here.

Bonus recipients say that the payment made by Apple is not a part of its normal compensation packages. Apple sometimes gives its employees additional cash bonuses, but the fresh stock grant was surprising. 10 to 20 percent of engineers in Apple’s divisions have got this bonus. However, the bonus program has bothered some engineers. Those who did not get the shares, they believe that the selection was done arbitrarily.

Meanwhile, Meta has ramped up efforts to induct engineers from Apple’s augmented reality, artificial intelligence, software and hardware engineering divisions.

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