Apple reduces raises given to retail employees after weak iPhone quarter::The smartphone market and general economy have slowed down post-pandemic, and Apple is reacting with a lower raise for employees in 2023 versus 2022.
So retail employees pay for the visionless design, weak execution, poor advertising, etc. etc.
It seems like the pain should start at the top.
They added a new button. Who are you calling visionless?
/s
Don’t forget the new™ never before seen port!
Yeah, they’re punishing the people that have the least influence on this outcome. And as you said, the people that are responsible for only doing incremental improvements on the product are already paid more as a baseline and probably got a bigger raise too.
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Two years ago, they were “essential”, and the idea of them getting any kind of benefit to prevent harm was unthinkable. Shafted at both ends of the spectrum.
Having an essential role doesn’t mean you aren’t easily replaced.
I think Apple gave extra high raises last year due to elevated inflation. It’s lower this year because they’ve reverted to “normal” sized percentage increases.
I think I’m missing your point.
Last year the raises were abnormally high because Apple was trying to adjust for high inflation. This year, they’re just back to normal increases. The article makes it sound like this is some kind of pay cut, but it’s actually just that the raises aren’t abnormally high like they were last year. Seems like the article is trying to create some clickbait.
So the raises for Execs, Devs, Designers etc where also lowered?
From the article it seems like there are a lot of other reasons too (like reduced unionization drive etc.)
This is my understanding from reading tech social media. Tim Cook also took a 40% pay cut earlier this year. But, people on here would rather be mad about something.
Ah yes, you are correct:
Apple chief executive Tim Cook will see his annual pay package slashed by more than 40% this year. The technology giant says Mr Cook requested the cut after criticism from shareholders.
Apple’s compensation committee awarded him a total “target compensation” of $49m (£45.1m) for 2023.
Source: https://www.bbc.com/news/business-64258289I personally think this is pure lip service. Someone making 100 Million a year taking a 49% pay-cut. But you are correct, he did take a pay-cut. But I would argue this does not hurt him in any way, especially not in comparison to line workers at the bottom of his company. In addition to this, there are a lot of high managers below him that also have direct influence on the course of the company, did they also take this paycut?
Mr Cook’s pay was 1,447 times more than the wage of an average Apple employee.
Source: https://www.bbc.com/news/business-64258289This excludes the workers at Foxconn and other manufacturing giants that work solely for apple and are compensated even worse.
Executives will get higher than inflation bonuses year on year and employees suffer because of the executives raises and lack of innovation.
I love how the title is that they’re lowering raises after a bad quarter, but then say that they’re going back to their normal raise structure they have always had and that 2022 was a higher than normal raise year because they raised the minimum wage by 10% on top of higher raises due to higher inflation.
They didn’t lower the minimum raise retail employees can get, they just lowered the maximum raise they could.
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The joke is that inflation raised way more than 10%
The richest company on the Earth everyone.
Of course the last quarter was weaker, a new iPhone is about to drop, people are waiting for that. Penalising retail employees is harsh given they can’t do much it.
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