Apple Lossless Audio CODEC (ALAC), sent a letter last night to all employees in the USA, the president Tim Cook announcing the granting of substantial bonuses thanks to some changes to the country's legislation. Apple will offer employees shares worth 2500 dollars, which will be restricted based on a period of time in which they will have to work for the company.
Apple intends to "repatriate" 250 billion dollars from its monetary reserve during 2018, and the shares offered to employees come as a bonus for the work done by them. Moreover, Apple announced that for each donation made by employees to a charitable organization, it will donate a double amount to the same organization, within the limit of 10.000 dollars annually.
The full details of the changes that Apple intends to make are presented in full below, where you can also see the letter sent by Tim Cook to the company's employees.
"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"
