Unlike many of its tech peers apple inc AAPL has not renounced any so far mass layoffs. The tech giant would have a harder time justifying such a move, Bloomberg columnist said Markus Gurman in its latest edition of the weekly newsletter “Power On”.

Few things go in Apple’s favor: Apple is far more profitable than any other tech company, posting $30 billion in profit in the December quarter alone, Gurman said. The company also has a $165 billion war chest and a reputation for stability, he added.

Also, the company currently has some momentum given the stock’s 20 percent year-to-date gain and the upcoming launch of a new mixed reality headset and operating system, the Apple author said.

Potential layoffs at Apple, Gurman said, could do far more damage to corporate morale and public perception than Apple’s recent cuts Metaplatforms Inc. META, Amazon, Inc. AMZN And microsoft corp MSFT And alphabet inc Google GOOD Google.

Also, top Apple executives, who are considered the most tactical minds in the industry, could see layoffs as a signal that they’ve made a strategic mistake or that the global economy is in worse shape than feared, Gurman said.

Efficiency focus: Gurman noted that Apple largely avoids hiring many employees, even as most other companies went on a hiring frenzy during the pandemic. But other factors were beyond the company’s control, such as: B. rising interest rates, currency fluctuations, the war in Ukraine and the ongoing pandemic, he said.

Apple continued to focus on containing costs and making its operations more efficient — a process that began last summer, he noted.

See also: Everything you need to know about Apple stock

Insiders on cost containment: Gurman added that Apple has deferred corporate team bonuses that were previously paid twice a year. Other cost-cutting measures include:

• Some projects like a HomePod with a screen have been pushed back to next year
• cut budgets…