Apple Retail Employees Getting Smaller Raises of Approximately 4% in 2023

[citysnaps]

I didnt say it wasnt, but the comparison I was replying to which basically boiled down to “be happy you have a job at all unlike these companies cratering” is patently absurd and wrong

Apple avoided the overhiring, which speaks well to their read of the room during the pandemic and their general cororate culture.

Doesnt mean that 4% raises this year arent terrible raises.

Doesnt mean that “you should be thankful to have a job” is a good argument against better raises

"Doesnt mean that 4% raises this year arent terrible raises."

OK, if that's a terrible raise (as you appear to assert) for the current economic situation, conditions, times, and competitive pressures, what is the "proper and correct" raise, as you apparently have data to back that up?


"Doesnt mean that “you should be thankful to have a job” is a good argument against better raises"

Specifically...who made that argument? Smells like an oblique obfuscation to hide behind.

 

[WarmWinterHat]

"Doesnt mean that 4% raises this year arent terrible raises."

OK, if that's a terrible raise (as you appear to assert) for the current economic situation, conditions, times, and competitive pressures, what is the "proper and correct" raise, as you apparently have data to back that up?


"Doesnt mean that “you should be thankful to have a job” is a good argument against better raises"

Specifically...who made that argument? Smells like an oblique obfuscation to hide behind.

I'll answer. In this climate, an appropriate raise for a profitable company is the inflation rate + 2%. Hell, I work at a not-for-profit and had a better raise last year, but then I work nowhere near tech or retail.

This year we are expecting as much, at least with bonuses.

 

[MacTiki]

What is this law that requires for-profit companies to prioritize their financial health? I've never heard of such a law.

Fiduciary Duties of a CEO include things like maintaining the viability and profitability of company and provide the highest amount of returns to its investors.

If Tim could close the stores and sell iPhones from vending machines he would.

 

[Urban Splash]

They won’t be getting anything with all the ShitWoven cases being returned.

 

[WaitingForGuacamole]

A raise that would cover merit + inflation would be nice, but to be honest, this is a lot more than a lot of companies are giving out in tech this year.

 

[MacTiki]

I just want to know why people like yourself want to pretend these workers are out on street corners selling matchbooks to make ends meet.

Could use a new MacBook Pro so when you have a second DM that intersection.

 

[new_lion00]

This is consistent with previous years. I do believe that the raises from last year were due to squashing any thought of unionizing and keep employees happy, however, now it goes back to what they would do. From what I was told and understood from people I know is that raises would top out at 3% but some would get 5% if you were good with managers. I’ve also heard that people who have been there for a few years will get a 2k RSU package, but a new manager with no experience will get thousands more just because of their title and qualify for bonuses.

 

[nathansz]

Fiduciary Duties of a CEO include things like maintaining the viability and profitability of company and provide the highest amount of returns to its investors.

That’s not a law

 

[WarmWinterHat]

That’s not a law

Not federally, but it is in some states. It depends on where the company is incorporated.

 

[Razorpit]

I'm more concerned about slugs on my tomato plants than illegal immigration. It's a convenient political talking point to distract voters from the fact that the federal government is doing absolutely nothing whatsoever. The president, senate and house are all blowing smoke up your bum and you're smoking bowl after bowl of it. Taxes, entitled boards of directors and Wall Street and taking 5 out of every 7 cookies on your plate, and the elected politicians are blaming illegals for stealing them.

I say this as a very not struggling grandson and husband to elected politicians.

There are plenty of crooks in the segments you listed. However by far the largest group are the “elected” politicians and the unelected government workers who made a career out of paper pushing. And I wish I had a big bowl of something to smoke, it would help with the inflation that’s not inflation.

I wasn’t aware that Apple stores in the US were staffed by undocumented migrant workers

What part of “in a few years” don’t you understand?

I'll answer. In this climate, an appropriate raise for a profitable company is the inflation rate + 2%. Hell, I work at a not-for-profit and had a better raise last year, but then I work nowhere near tech or retail.

This year we are expecting as much, at least with bonuses.

You’re worried about public corporations? Not-for-profits are mostly legalized money laundering operations. 😂

 

[GfPQqmcRKUvP]

When Yale publishes something it’s not a fringe opinion. But sure tell yourself that. And Harvard has its own study stating basically the same thing. Look it up, it’s from 2021.
I’ve been investing and trading for 22 years now. And have retired because of it. Sure, enjoy wonderland.

So you think that if you did a poll of HBS professors and asked “are share buybacks obvious stock market manipulation” you would get a lot of agreement? I mean I totally disagree but neither of us has that polling data.

Stop Demonizing Stock Buybacks

If progressives think they’ve found a good stick to beat corporate America with, they’re wrong.

www.theatlantic.com

 

[GfPQqmcRKUvP]

LMAO. That's 'somewhere over the rainbow' thinking. Within the USA, your options are 'struggle here or struggle similarly somewhere else'

Yes, because everyone knows the US has some of the lowest salaries and discretionary income numbers in the world.

 

[nathansz]

What part of “in a few years” don’t you understand?

So you are claiming that “in a few years” Apple retail stores in the us will be staffed by undocumented migrants ?

 

[seek3r]

There are millions of illegals coming over our southern border. You think things are bad now, wait a few years.

In large part they’re only illegal because we’ve made doing it legally harder. If this were my grandparents and great-grandparents era these folks would be legal just like my family was. Immigration is and will be crucial to the US, I’m really sick of people demonizing immigrants. We can absolutely afford to help these folks, we’re the wealthiest country in history *and* our population is only stable/growing because of immigration.

Without immigration, legal and illegal, we’d be facing the same coming population crash and the resulting hit on infrastructure and safety nets that Japan is starting to hit now and most first world countries are staring down the barrel of. In the long run we know the US is better off for it, the only people bothered by it are nativists and supremacists who are terrified that they will have their power to skew US politics diluted.

“They’re coming to take yer jerbs” is absurd, reductionist, and actively harmful. Peddle your right wing bs somewhere else.

 

[GfPQqmcRKUvP]

Thanks for the link! Their first sentence made me think they were actually against buybacks, but they did have a reasonable explanation and comparison. Now my main question is in their explanation of the buyback where they state:

“On a per share basis, for those shareholders who don’t sell, each remaining share will increase in value to $16 because of the lower share count.”

Is there some process to automatically adjust the stock price, like when there is a split? I had thought the price changing was just the usual “market moving because there is less supply”, so not nearly as exact as their description, but if there is a price adjust similar to a split, that statement makes more sense to me, and I’ve learned something new!

There is no mechanism that automatically adjusts the share price like you’d see on an ex-dividend date so you won’t see anything exact. That being said, pretend the share price didn’t adjust over time: you could earn enormous returns by simply buying the stock of companies engaged in buybacks if your contention was that the market didn’t appropriately adjust to the buyback policy over time. Something this “easy” to earn add’l return will be arbitraged away.

I’m against many buybacks but I’m also against many dividends! I just don’t see a huge reason to be for one and against the other for the argument of stock market manipulation. As an example, many companies were/are super reticent to cut their dividend payments when the economy or their business is going through bad times because, for whatever reason, dividends are thought of as “sticky” and something that should never be reduced even if it’s the right business decision. This can lead to some really unnecessary cash depletion just when a company needs to conserve most. In fact, this is a big reason why companies like buybacks - they find it easier to slow their pace of buybacks than cutting a dividend (which has a negative connotation).

 

[sleeptodream]

I’d take it. More than I’ve literally ever gotten as a healthcare worker (I’m a hospital pharmacist). Ours are 2 to 2.75%. I got 2.5% this year even with the really bad inflation 😒 pretty pathetic given how much education is required (doctorate degree +/- 2 years of residency), how stressful our job is, and what is at stake if a mistake is made

 

[NT1440]

Crabs in a bucket.

The notion of being against others actually getting a decent raise simply because you are *also* getting screwed is the most American mindset I can think of.

We need a little more of a French mindset in this country when it comes to not just taking it…

 

[Rychiar]

What’s a raise? I haven’t had one since 2019 😂

 

[Razorpit]

So you are claiming that “in a few years” Apple retail stores in the us will be staffed by undocumented migrants ?

I don’t know what “undocumented people” are. I’m talking about people who are here illegally. What do YOU think illegals are going to be doing here in a few years? Sitting around collecting government paychecks and voting for more of it? {Wait a minute…🤔}

In large part they’re only illegal because we’ve made doing it legally harder. If this were my grandparents and great-grandparents era these folks would be legal just like my family was. Immigration is and will be crucial to the US, I’m really sick of people demonizing immigrants. We can absolutely afford to help these folks, we’re the wealthiest country in history *and* our population is only stable/growing because of immigration.

Without immigration, legal and illegal, we’d be facing the same coming population crash and the resulting hit on infrastructure and safety nets that Japan is starting to hit now and most first world countries are staring down the barrel of. In the long run we know the US is better off for it, the only people bothered by it are nativists and supremacists who are terrified that they will have their power to skew US politics diluted.

“They’re coming to take yer jerbs” is absurd, reductionist, and actively harmful. Peddle your right wing bs somewhere else.

You may think you sound enlightened, but the immigration laws were created for a reason and your civics teacher failed you. The immigration laws of the 20th century will blow your mind. A nation cannot survive by taking in every unskilled person who want to leave their country just because. Mexico doesn’t want them. The illegal “sanctuary cities” don’t want them.

You can call me whatever “ism”, “ist”, or whatever is the latest cool progressive term, but we no longer have a melting pot. We have a rancid lumpy stew right now. And the current administration doesn’t care because they believe it will suit them in the long run. What they are doing is illegal and treasonous. Much worse than a mean tweet from the orange bogeyman.

As a descendant of 20th century immigrants I’m 100% for legal immigration.

 

[nathansz]

Not federally, but it is in some states. It depends on where the company is incorporated.

Which states?

 

[nathansz]

pay Union dues to what is effectively just a PAC

You might be confusing police “unions” with real unions

 

[TruthAboveAllElse]

You might be confusing police “unions” with real unions

How are they not real unions?

 

[seek3r]

I don’t know what “undocumented people” are. I’m talking about people who are here illegally. What do YOU think illegals are going to be doing here in a few years? Sitting around collecting government paychecks and voting for more of it? {Wait a minute…🤔}

Apple cant hire illegal immigrants, aka undocumented immigrants, without them having legal status. That’s been part of the whole problem. The reason why Biden just granted temporary status to Venezuelan refugees is so they can get real working papers. At that point they’re definitionally not illegal anymore. When people do not have documentation, are not legally here, they cant find real jobs, and it falls on governments to support them

You may think you sound enlightened, but the immigration laws were created for a reason and your civics teacher failed you. The immigration laws of the 20th century will blow your mind. A nation cannot survive by taking in every unskilled person who want to leave their country just because.

That’s *literally* what we did during some of the most thriving periods in US history. It helped the US massively. Should there be no controls? No, but we’ve tightened the rules so much that it’s incredibly difficult and very very expensive to immigrate legally. It’s been pushed by xenophobia, plain and simple

Mexico doesn’t want them. The illegal “sanctuary cities” don’t want them.

You dont actually know what “sanctuary city” means, do you? It just really boils down to the municipality isnt going to do CBP/USCIS/ICE’s job for them. There is no obligation on states and municipalities to enforce federal immigration laws. Bet you’re all for states rights, right? Congrats, this is that. No one is stopping ICE from doing their thing in a sanctuary city, they’re just not committing funds or resources to do ICE’s thing for them.

Btw the core reason for this is to help local law enforcement. When undocumented folks are afraid of all law enforcement because of immigration status they will refuse to talk to local cops about, say, solving murders or abductions.

Do you want violent crime solved or do you want local municipalities ineptly (it’s not their specialty, and believe it or not those laws are complicated with a lot of gray areas) enforcing federal immigration law?

You can call me whatever “ism”, “ist”, or whatever is the latest cool progressive term, but we no longer have a melting pot. We have a rancid lumpy stew right now.

[citation needed]

And the current administration doesn’t care because they believe it will suit them in the long run.

Oh, really? How so? Do you believe the far right “illegals are voting” bs? Because there’s been zero evidence anytime anyone’s actually been forced to try and cough up some in court

What they are doing is illegal and treasonous. Much worse than a mean tweet from the orange bogeyman.

🙄 ok, sure

As a descendant of 20th century immigrants I’m 100% for legal immigration.

Then you should be for allowing people under the same rules (minus the blatant racist parts) that our ancestors came here on, right?

 

[WarmWinterHat]

Which states?

Delaware for one. I will edit this later with the specific legal code, after I ask my wife (she is a lawyer).

 

[seek3r]

How are they not real unions?

They’re the only unions that dont seem to support most other unions. It’s weird. I’m not sure I’d call them fake unions, I would say they’re toxic and very much not integrated with the rest of labor