Apple has informed some employees that they will be receiving bonuses of up to $180,000, in an apparent effort to retain engineers being recruited by other Silicon Valley tech companies.
Last week, the company informed the engineers of the out-of-cycle bonuses, Bloomberg reported. The bonuses are being issued as restricted stock units, people with knowledge of the matter told Bloomberg. The shares vest over four years.
Earlier this month, Apple announced it would be giving employees across the company a $1,000 bonus.
The bonuses range from about $50,000 to as much as $180,000 for some. The program wasn’t introduced across the board and was presented by managers as a reward for high performers.
According to Bloomberg, Meta, which is owned by Facebook, has hired about 100 engineers from Apple in the last few months. But Apple has lured some employees away from Meta as well, the story pointed out.