Apple to Boost Pay for US Workers as Inflation Bites

$Apple (AAPL.US)$ is raising salaries for workers in the US by 10% or more as it faces a tight labor market and the spread of unionization efforts across its retail stores.
The Cupertino, California-based company is expanding its overall compensation budget this year, it said in a statement Wednesday. It will hike minimum hourly pay for its staff to at least $22, up 10% on last year. The move follows a pay bump in February after inflation woes and complaints from some staffers about working conditions during the Covid-19 pandemic.
$Alphabet-A (GOOGL.US)$ and $Microsoft (MSFT.US)$ are among other tech companies that have revised performance reviews or adjusted pay this year as they fight to retain workers.