Tuesday 19 June 2018

Apple employees in Cork in line for stock windfall

Apple's headquarters in Cork
Apple's headquarters in Cork
Adrian Weckler

Adrian Weckler

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.

The news is being reported by Bloomberg’s Mark Gurman, who cited unnamed sources in Apple.

The bonus will come in the form of restricted stock units and will benefit “most employees worldwide in the coming months”, according to the sources.

On Wednesday, Apple announced that it was to pay $38bn (€31.2bn) in US tax as part of a repatriation deal with US authorities. The tech giant also announced that it would spend a further $30bn (€24.6bn) on a new campus and new facilities in its US workforce.

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.

The facility's onsite Applecare team serves 134 countries across Europe and Africa and India.

Hollyhill is also responsible for shipping "hundreds of millions" of products annually to 51 countries.

Apple also builds iMac computers in Cork, its only self-owned manufacturing facility around the world.

This is Apple's longest-running business activity in Ireland, a direct inheritance of the company's original iteration here in 1980.

Online Editors

Business Newsletter

Read the leading stories from the world of Business.

Also in Business