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Apple reduces raises given to retail employees after weak iPhone quarter
(appleinsider.com)
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this post was submitted on 22 Sep 2023
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I think Apple gave extra high raises last year due to elevated inflation. It’s lower this year because they’ve reverted to “normal” sized percentage increases.
Last year the raises were abnormally high because Apple was trying to adjust for high inflation. This year, they’re just back to normal increases. The article makes it sound like this is some kind of pay cut, but it’s actually just that the raises aren’t abnormally high like they were last year. Seems like the article is trying to create some clickbait.
This is my understanding from reading tech social media. Tim Cook also took a 40% pay cut earlier this year. But, people on here would rather be mad about something.
He's running quite literally one of the biggest companies in the world. People who are able to do that deserve top dollar. 1447 times is really not that crazy given his relative economic impact