January 17, 2018 / 9:28 PM / a month ago

Apple issues $2,500 bonuses to employees after new tax law - Bloomberg

(Reuters) - Apple Inc told its employees on Wednesday that the iPhone maker is issuing a bonus of $2,500 (£1,800) 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.

Reporting by Sonam Rai in Bengaluru; Editing by Maju Samuel

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