Apple Gives iPhone Designers Bonuses Up to $400K to Counter OpenAI Poaching
Apple gave its iPhone Product Design team bonuses worth "several hundred thousand dollars" in an effort to keep them from being poached by other companies, reports Bloomberg. The bonuses were provided as restricted stock units (RSUs) that will vest over a four-year period.
Hardware designers given bonuses will need to stay with Apple to get the full value of the stock award, which can range from $200,000 to $400,000 or even more depending on how Apple stock does over the next several years.
Apple executives are concerned with the number of engineers the company has been losing to rivals like OpenAI. Several former Apple designers are now working on hardware products at OpenAI, including former Apple design chief Jony Ive. OpenAI has been recruiting Apple engineers that worked on the iPhone, iPad, Apple Watch, and Vision Pro, and it has hired over 40 former Apple employees.
In 2021 and 2022, Apple also handed out stock bonuses to engineers in silicon design, hardware, software, and operations to thwart poaching and increase employee retention.
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