Apple slashes pay raises for retail employees as revenue dropsApple CEO Tim Cook — who is making $49 million in salary this year — cashed in $41 million in stock as the iPhone maker’s stock slips from recent highs, according to a Securities and Exchange Commission filing.
He still owns about 3.28 million shares of the Cupertino, Calif.-based tech behemoth to remain among Apple’s top individual shareholders alongside billionaire board member Arthur Levinson and the company’s COO Jeff Williams, In 2022 and 2021, Cook took home pay packages just below $100 million, including base salary, stock awards and a bonus.
Last month, Apple rolled out the iPhone 15, though the company has suffered from declining iPhone sales and a slumping share price in recent months., rising only around 4% — a far cry from the 8% to 10% wage bumps that Apple handed out last year as inflation soared.