Apple to hire 20,000 workers in $350bn boost to US economy

Apple plans to build another corporate campus and hire 20,000 workers in the next five years as part of a $350bn (€286bn) commitment to the US economy.

The pledge announced on Wednesday is an offshoot from the sweeping overhaul of US taxes championed by President Donald Trump and approved by Congress last month.

Besides dramatically lowering the standard corporate tax rate, the reforms offer a one-time break on cash being held overseas.

Apple plans to take advantage of that provision to bring back more than $250bn (€204bn) in offshore cash, generating a tax bill of roughly $38bn (€31bn).

The Cupertino, California, company says it will announce the location of a second campus devoted to customer support later this year.

Cupertino, Apple Campus.



Most Read in Business

World Markets