Apple will be issuing a grant of USD2,500 in restricted stock units to all Apple staff including full-time and part-time employees, and Senior Managers worldwide.
Cook also says that the Cupertino company will be extending efforts in support of coding education, ConnectED and STEAM programs.
Cook also mentioned that Apple will match all employee charitable donations, up to USD10,000 annually, at a rate of two to one. Additionally, it will double the amount it matches for each hour an employee donates their time. The initiative runs immediately and will follow through to the end of 2018.
Apple announced a new set of investments it will be making over the next several years which will include expanding some of its existing campuses and establishing a new one.
Separately, the company earlier pledged USD350 billion to the US economy over the next five years. This is expected to create 20,000 new jobs.
It plans to repatriate its overseas cash of roughly USD245 billion, resulting in a reduced USD38 billion tax bill. A payment of this size is said to be the largest of its kind ever made. Apple, by the way, is already the largest US taxpayer.
US President Trump called Apple’s announcements today “a huge win for American workers and the USA.”
Here’s the full text of Tim Cook’s email to employees:
This morning we announced a new set of investments Apple will be making over the next several years, including expanding some of our existing campuses and establishing a new one. We’re also extending our efforts in support of coding education, ConnectED and STEAM programs. I encourage you to read about these announcements on AppleWeb.
I’m excited to let you know that we’re also increasing our investment in our most important resource — our people. You are the heart and soul of Apple and we want you to share in the success made possible through your efforts. Your dedication helps Apple make the best products in the world, surprise and delight our customers, and ultimately make the world a better place.
To show our support for our team and our confidence in Apple’s future, we’ll be issuing a grant of $2,500 in restricted stock units to all individual contributors and management up to and including Senior Managers worldwide. Both full-time and part-time employees across all aspects of Apple’s business are eligible. Details are available on AppleWeb.
We also know how much our employees value giving back to the communities where we all work and live. I’m happy to announce that starting immediately and running through the end of 2018, Apple will match all employee charitable donations, up to $10,000 annually, at a rate of two to one. In addition, Apple will double the amount we match for each hour you donate your time. Last year, your generosity helped people around the world through causes that are important to you. I’m proud that this year we’ll be able to build on that tradition of giving.
Apple’s success comes from our people and I am proud to work alongside each of you. On behalf of the Executive Team, thank you for your hard work and dedication.