Groups | Search | Server Info | Login | Register

Groups > alt.fruits.apples > #2

Re: Apple CEO Tim Cook calls mass layoffs a ?last resort, ? as the company avoids the giant job cuts of its Big Tech peers

Cross-posted to 5 groups.

Show all headers | View raw

On 25 Aug 2021, "Text-Drivers R Killers" <xeton2001@yahoo.com> posted
some news:sg66ap$6dr$32@news.dns-netz.com: 

> Why do all the "women" working at Apple have "Adam's Apples" and 5
> o'clock shadows?  Is that a hiring requirement? 

As companies like Alphabet, Meta, and Amazon slash tens of thousands of 
jobs, Apple stands alone as a major U.S. tech company that has avoided 
mass layoffs. Nor is it planning to follow its Big Tech peers by slashing 
jobs, with Apple CEO Tim Cook calling them a “last resort” in a television 
interview Thursday.

Cook told CNBC that “mass layoffs is not something that we’re talking 
about at this moment,” though he did not rule out the possibility 
entirely. 

Apple did not hire as many employees during the pandemic-era tech boom, 
which means less pressure to cut labor costs as the bubble deflates. 
Apple’s workforce grew by around 19.7% between 2020 and 2022, according to 
CNBC calculations.

By comparison, Meta increased its workforce by 60% in just 2020 and 2021. 
Since last November, the social media company has announced layoffs 
totaling 21,000 jobs.

Still, economic headwinds are affecting Apple’s plans, with Cook telling 
CNBC that it was hiring “at a lower clip level than we were before.”

Nor has Apple entirely avoided cutting some jobs, trimming a small number 
of employees in its corporate retail division in early April, per 
Bloomberg. The company also reportedly delayed bonuses.

Yet the company has not matched the tens of thousands of jobs slashed by 
Alphabet, Microsoft, Meta, and Amazon. Over 189,000 jobs have been cut in 
the tech sector so far this year, according to tracker layoffs.fyi—already 
more than the entirety of 2022.

A ‘good quarter’
Apple reported $94.8 billion in quarterly revenue on Thursday. While the 
result was the company’s second straight quarter of falling sales, the 
decline was smaller than analysts expected. Apple shares rose 2.5% in 
after-hours trading following the earnings release.

Apple’s revenue was buoyed by iPhone sales, which grew 1.5% year on year. 
Demand for the company’s other products sank, with iPad and Mac revenue 
falling 13% and 31% year on year respectively. 

Cook called the results a “good quarter from an iPhone point of view” on 
CNBC, given a slump in the overall smartphone market. Consumers are buying 
fewer smartphones, PCs, and other consumer electronics, hurting both 
device manufacturers and chipmakers. 

Qualcomm, which supplies chips to Apple and other smartphone makers, 
reported a 17% year-on-year drop in quarterly revenue on Wednesday, with 
CEO Cristiano Amon saying the company had yet to see a recovery in demand. 

During Apple’s earnings call, Cook pointed to India as a future driver of 
iPhone sales. “What I do see in India is a lot of people entering the 
middle class,” Cook said, expressing hope that Apple “can convince some 
number of them to buy an iPhone.” The company opened its first retail 
stores in India in April. 

<https://fortune.com/2023/05/05/apple-ceo-tim-cook-layoffs-earnings-last-
resort/>

Back to alt.fruits.apples | Previous | Next | Find similar

Thread

Re: Apple CEO Tim Cook calls mass layoffs a ?last resort, ? as the company avoids the giant job cuts of its Big Tech peers Amos Zon <amoszon@msnbc.com> - 2023-05-06 06:53 +0200

csiph-web