Apple is paying out surprise bonuses of up to $180,000 to software engineers in a bid to stop employees from defecting to other big tech companies including Facebook parent Meta, according to a new report.
Select engineers across the company were told they would be receiving the bonuses last week, Bloomberg reported on yesterday.
The bonuses ranged in size from $50,000 to $180,000 and came in the form of restricted stock units, according to the outlet.
The stock grants reportedly take four years to fully vest, giving the employees a reason to stay with the company rather than jump ship for Meta, Google, Amazon or other competitors.
The news comes as big tech companies fight over scarce engineering talent in Silicon Valley, with Meta reportedly hiring away 100 Apple engineers in the past few months alone.
However, not all engineers are receiving the bonuses — and some who have been left out are annoyed, according to the outlet. They were given to about 10% to 20% of engineers in applicable divisions.
The payouts are not part of normal Apple compensation packages, which include a base salary, stock units and a cash bonus. Apple sometimes awards additional cash bonuses to employees, but the size of the latest stock grants was atypical and surprisingly timed.
The news comes as big tech companies fight over scarce engineering talent in Silicon Valley, with Meta reportedly hiring away 100 Apple engineers in the past few months alone.
The Facebook and Instagram parent company is especially dedicated to hiring away augmented reality, artificial intelligence, software and hardware engineering employees, according to Bloomberg.
Meta and Apple compete in many of the same arenas, as Meta is currently working on an Apple Watch competitor that it expects to launch in the near future, while Apple is working on an AR/VR headset that will compete with Meta’s Oculus VR headsets.
Apple and Meta did not immediately respond to requests for comment.
