The computer giant plans to build a new business, building a new factory and hiring 200 workers to build computers at its new facility in Menlo Park, Calif., the company announced Monday.
The Menlo-based company, which has struggled with declining demand in recent years, said it will pay $1.1 million in salary and benefits to about 200 of its employees.
The company also will provide them with a $1 million pension, which will cover the retirement costs of those who retire from the company.
The company also is expected to pay $900,000 in relocation costs to its Menlo campus, where workers will move from a building used for manufacturing of Apple devices and servers to an area with a parking lot.
The move will help the company reduce costs, according to Apple’s filing with the Securities and Exchange Commission.
Apple will build the new computer factory in Menllo in late 2019.
The new facility will have a total of about 20,000 square feet, Apple said.
The move will allow Apple to build and sell a new Apple device, as well as develop and test new software for the company’s iPhones, iPads, Macs and the Apple Watch.
The Menlo facility will be able to produce about 60 new Apple products each year, the company said.