According to the most recent data, hundreds of companies in the technology industry have laid off more than 300,000 people in total in 2022 and 2023. Google, Meta, Microsoft and Amazon cut their ties with more than 60 thousand people during this period. However, Apple did not lay off even in these difficult economic conditions. CEO Tim Cook said that unlike its rivals, Apple has no plans for major layoffs.“Last resort” dismissal
“I see it as a last resort and therefore mass layoffs are not something that is on our agenda right now,” Tim Cook said of the layoffs. Cook didn’t rule out the possibility of layoffs, but said Apple had no plans and such a move would only be a “last resort”.
However, the CEO said that Apple is cutting costs and slowing the pace of hiring. Cook underlines that they have found new ways to save while using the phrases, “We continue to be extremely cautious about hiring.” This is one reason why Apple is now in a better position not to lay off employees given the current macroeconomic conditions.Another reason is that the company continues to be extremely profitable. Apple, which recently released its second fiscal quarter report of the year, managed to achieve $ 94.8 billion in revenue and $24.1 billion in net income. While both Apple’s revenue and profit fell 3 percent, its main competitor Samsung’s profit fell 95 percent.
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