Workers In The Tech No-Poaching Case Will Probably Get Around $4,000 Each
A three-year-old class action lawsuit will likely leave four major tech companies dishing out an average of $4,000 to almost 60,000 employees, the San Jose Mercury News reports.
Apple, Google, Intel, and Adobe Systems employees will receive the compensation after investigators found these four companies conspiring not to steal employees from one another by offering higher pay.
This $240 million is only a part of the settlement. Another $81 million will go to the workers' lawyers, and slightly more than a million will cover the tech companies' expenses. The San Jose Mercury News reports the total settlement comes to $324.5 million.
Three other Silicon Valley companies - Intuit Inc., Pixar Animation, and Lucasfilm - were also named in the lawsuit, but have reached a separate settlement already approved by a U.S. District Judge. The settlement involving the remaining four companies will be heard in federal court on June 19, the San Jose Mercury News said.
Somehow $324.5 million is on the low end of what this settlement could have been. Earlier in the case, class-action attorneys sought $3 billion. And because the case involved antitrust violations this could have tripled to $9 billion. Employees were seeking compensation approaching $90,000 according to AppleInsider, well into the range of a year's salary for a computer scientist or software engineer.
The lawsuit portrayed Apple and Google as leaders of the illegal activity, though it is still not known how the $324.5 million will be divided among the four companies. In 2013 Apple, Google, Intel, and Adobe combined to rake in $283 billion in revenue.
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