May 5, 2023

Unlike its Big Tech contemporaries, Apple CEO Tim Cook has declared that the company has no intentions to conduct large layoffs.

Cook noted that, while he cannot rule out the prospect of layoffs, Apple does not intend to make any at this time. He also stated that mass layoffs would be considered only as a “last resort.” Apple has been lowering expenses and slowing its employment rate. Cook noted that Apple is still hiring, albeit at a slower rate than before. The CEO went on to say that the firm is testing its expenditure and looking for new methods to economize.

Apple curtailed recruiting during the epidemic, which might explain why it is better positioned to avoid layoffs in reaction to current financial challenges.

Apple has described the job reduction as a “streamlining effort” rather than layoffs. The business informed staff that the adjustments will “improve store upkeep globally,” and that Apple will provide assistance to those affected. Some of those affected were able to apply for other positions within the company.

The sources for this piece include an article in CNBC.