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Irish Apple employees could be line for stock windfall

Written by Business World, on 18th Jan 2018. Posted in Ireland

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 Apple Inc told its employees on Wednesday that the iPhone maker is issuing a bonus of $2,500 worth of restricted stock units following the new U.S. tax reform, Bloomberg reported, citing people familiar with the matter.

The company will begin issuing stock grants to most employees worldwide in the coming months, the report said. 

Earlier in the day, Apple said it would make about $38 billion in one-time tax payments on its overseas cash, one of the largest corporate spending plans announced since the passage of the tax cut signed by U.S. President Donald Trump.

Apple employs around 6,000 people in Ireland from its Cork campus. Its activities include manufacturing, finance, customer care, sales support, logistics and transport management. Other functions include iTunes and localisation.

According to the Irish Independent, an undisclosed number of employees in Cork look set to get a stock windfall worth over €2,000 each, after Apple ‘repatriates’ $38bn (€31.2bn) in tax to the US.

(Reuters)

Source: www.businessworld.ie

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