Delaying promotions to cutting travel costs; Here's how Apple is avoiding layoffs
Apple was conservative with its hiring during the peak COVID-19 pandemic. On the other hand, Apple's top rivals have laid off more than 50,000 employees in recent months. Here's how Apple is avoiding layoffs.
FollowApple is the only significant tech juggernaut that has avoided using mass layoffs as a cost-cutting measure. The iPhone manufacturer looks to be making every effort to avoid following in the footsteps of competing companies like Microsoft, Meta, Google, and Twitter by enacting some stringent cost-cutting measures.
Apple analyst and Bloomberg's Mark Gurman believed that the company's senior executives are among the most smart in their field. He believed that layoffs would either indicate that they had made a strategic error or that the global economy is in even worse health than people had anticipated in his most recent Power On newsletter. According to recent reports, Apple is restricting hiring and deferring incentives for some corporate staff.
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Additional actions consist of the new generation HomePod with the screen won't be manufactured by Apple until the following year, according to reports. The business probably wishes to devote "more urgent tasks" with its research and development funding.
Moreover, Apple has halted hiring for several teams, and departments are adhering to stringent spending limits. The corporation has cut back on funding for various teams, and more expenditures now need to be approved by the senior vice president, according to the newsletter. In addition, the firm has not yet filled any openings.
The travel allowances for staff have also been "seriously curtailed." According to reports, managers and HR are now more rigid than ever regarding office attendance. At least Apple's major US business has a hybrid operating model, requiring employees to visit the office three times each week.
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Apple was also conservative with its hiring during the pandemic. On the other hand, Apple's top rivals have laid off more than 50,000 employees in recent months.
