Amid an economic downturn and layoffs across all technology industries apple inc AAPL CEO Tim cook reiterated that mass layoffs are not Part of the company’s current plans.
Speaking of with CNBC last week, Cook said he viewed mass layoffs as a “last resort” and that they would not be discussed.
“We continue to hire, just at a lower level than before. And we’re doing the right things by questioning the things we spend, and we’re just finding a few more ways to save at the same time. ‘ said Cook.
However, the Apple CEO didn’t rule out the possibility of job cuts, but noted that the company “remains extremely cautious about hiring.”
early February, Cook said in an interview with the Wall Street Journal that there are ways Cut costs without making mass layoffs.
“I see layoffs as a last resort,” Cook said. “You can never say never. We want to manage costs in other ways as much as possible.”
Apple’s last major layoff was in 1997 as a co-founder Steve Jobs returned to the company and Apple in turn cut costs by laying off 4,100 employees.
During the pandemic, the company was much slower in hiring than other tech companies. It “also tends to run lean,” with limited employee benefits and companies focused on hardware products, The Wall Street Journal reported.
Last week, Apple reported better-than-expected earnings for the second quarter of fiscal year 2023. The company’s earnings per share were $1.52, beating the consensus estimate of $1.43 per share, while revenue was $94.8 billion compared to analysts’ forecast of $92.96 billion.
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