Apple reduces raises given to retail employees after weak iPhone quarter
appleinsider.com
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.
The most valuable company in history with a market cap of $2.96 TRILLION dollars is screwing their employees to save an otherwise negligible amount of cash? Steve Jobs would be proud.
At least when Jobs was being a tyrant there was proper innovation. Really try and remember the shit they put out at his prime. Shit was timeless. And all still had acceptable pricing relatively speaking.
Yeah but the landscape for technological innovation is much shallower nowadays. Of course innovation was present in an age when home computers and mobile phones were on the rise. Although I do think their VR headset is relatively innovative.
I think Steve Jobs will definitely jump on the AI train and push to make AI as one of Apple's main focus. As we all know, he's the one who pushed for the acquisition of the company who made Siri.
I think we'd all be quite shocked if Steve Jobs did that. But Apple might.
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.
The joke is that inflation raised way more than 10%
My company laid people off, froze everyone’s pay, announced _no raises or promotions this year _, and ceased all hiring and business travel.
Fuck, I would have loved a 10% raise.
Leave.
I’ve been trying for months. The hiring market is terrible right now. Very few jobs and many many laid off folks vying for them.
My only point: don’t shit on a 10% raise.
The other important part here is that inflation is lower this year than last. So the extra high raises last year may have helped keep up but aren’t needed as much.
As far as I can tell there’s no direct relationship between iPhone sales and the change in raises. If anything I’d expect low sales to lead to layoffs or closing stores.
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.