Apple rolls out cushy new benefits to its 98,000 employees | Cult of Mac

Apple rolls out cushy new benefits to its 98,000 employees



Apple announced its adding some extra benefits for all employees this year, and while everyone isn’t getting a free Apple Watch, the company has decided to lengthen parental leave, reimburse your college education, and match how much time you spend doing charitable work. Plus some stock perks for your family incase you die.

In a memo shared with Fortune, Apple’s head of HR, Denise Young Smith, said the wage range of new benefits were created to address all four generations in its workforce.

“I don’t think these [benefits] would be immediately thought of. But for the first time we’ve probably got four generations in the workplace at the same time, and we need a plethora of programs.”

The comprehensive update is huge for the 98,000 people employed by Apple worldwide, nearly two-thirds of which are hourly workers at the company’s retail stores.

Apple is now matching philanthropic donations from employees, not just by matching the money employees donate, but now the company will also match hours spent on charitable endeavors. Apple will match up to $25 per hour of non-profit work, with a cap of $10,000 per employee.

The new benefits include a Student Loan Refinancing Program for U.S. employees designed to ease the financial burden on college graduates, as well as parents with children in college. Maternity and new parent leave options for full-time employees was increased as well, to four weeks before the due date for new moms, and 12-14 weeks after delivery. Other parents get up to six weeks off and full pay.

Source: Fortune