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Apple is giving employees $2,500 bonuses in restricted stock units after new tax law

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Apple is giving its employees $2,500 bonuses in restricted stock units following the passing of new US tax law, according to a report from Bloomberg.

The stock will be granted to most employees worldwide in the coming months, according to the report. It cites unnamed sources within Apple, who claim that Apple employees below a senior level title of “director” will be eligible for the bonuses.

9to5Mac obtained the letter sent to employees announcing the bonus, which says that the company is investing in its most important resource: it’s people.

Team,

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.

Tim

Apple announced earlier today that it would be bringing most of its cash back to the US from overseas (and paying $38 billion in taxes in the process), a move that would seem to be predicated by the recent overhaul of the corporate tax rate in the US.

Apple isn’t the only company to issue bonuses to celebrate the lower tax rates: AT&T and Comcast have also previously announced plans for similar bonuses as well.

Updated, January 17th, 6:10PM ET: Added text of letter Apple sent to employees.