Apple revenue falls, retail workers fined, increments cut

New Delhi. Apple, the giant tech company that manufactures the iPhone, has seen a decline in revenue. The company’s revenue fell in the most recent quarter as demand for the iPhone declined. Because of this, the company reduced annual salary increases for its retail employees this year.

Apple, the company led by CEO Tim Cook, launched their new iPhone 15 on Friday. The company is said to be raising salaries by about 4 percent. That’s far less than the 8 to 10 percent pay hikes the company gave last year, despite record levels of inflation.

Also read – Apple has not become the company with the highest market cap, every phone makes a profit, the cost is so much

Apple Store employees earn $22-30 per hour
Apple Store workers now earn $22 to $30 an hour, while workers in the tech support division AppleCare earn slightly more.

The performance review will continue until October
According to Bloomberg News, the boss of the Cupertino, California-based company has initiated a performance review process. The performance review will continue until October, the report said.

Salary increased so much last year
Last year, Apple raised employee pay by 2 percent to 5 percent in the typical pre-pandemic range, while raising the minimum wage to $22 from a previous level of $20. The company was eager to retain employees during a labor shortage and tried to fend off a growing unionization drive that has affected other retailers such as Amazon and Starbucks.