Apple may be joining other companies in tech layoffs

Recent reports suggest that Apple may be planning to lay off some employees from its retail teams. The company has been one of the few tech giants that avoided significant layoffs during the economic downturn that affected the sector. However, publications like Bloomberg and Business Insider have stated that Apple is expected to lay off a small number of people soon.

According to Bloomberg, the company will be eliminating roles in its development and preservation teams. The goal is to streamline operations and focus on growth areas. The exact number of affected employees is not known.

Business Insider also reported that Apple is cutting some jobs in its retail division. Staff were reportedly told they must reapply for jobs within the company or else they will be let go. However, sources said that the layoffs are not related to performance issues but rather to shifting priorities and strategies.

Although Apple has not made any official announcement about the layoffs, CEO Tim Cook has agreed to a massive pay cut this year following a shareholder vote on his compensation package after the company’s stock fell about 27% in 2022.

The layoffs, if confirmed, would be rare for Apple, which has been known for its stability and loyalty among its workforce. Unlike some of its peers which doubled their headcount between the third quarter in 2019 and the third quarter 2022, Apple did not aggressively hire during the pandemic. As a result, it did not have to resort to mass layoffs when demand for its products slowed down or changed.

However, some analysts think that more modest cost cuts could be coming for Apple, as it faces challenges such as supply chain disruptions, regulatory scrutiny, and competition from rivals.

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