Apple purportedly issuing smaller raises to its retail employees this year

Apple is issuing smaller raises to its retail employees this year, marking a deceleration from atypically large pay hikes during the pandemic, reports Bloomberg, quoting unnamed “people familiar with the matter.”

The company is disclosing average annual raises this week of roughly 4%, a return to the levels from 2020 and earlier, said the people.The latest range was typically between 2% and 5%, they said. Annual raises are at about four percent on average, with the increases applying to retail employees and AppleCare technical support employees.

As noted by MacRumors, most of Apple’s retail employees in the United States earn now US$22 to $30 per hour, and are given restricted stock units valued at up to $2,000 annually.