Apple CEO Tim Cook Says”Hiring Would Be Slower”, Mass Layoffs Are “Last Resort “

Currently, the whole world is suffering from economic turmoil and global meltdown. Tech layoffs are a big reason for the same. Numerous l companies like Microsoft, and Alphabet, have decreased the number of their workforce. To cut costs and generate more revenue, the companies have terminated the contracts of various employees. As a result, the global labor turnover percentage has witnessed a tremendous upward surge.

‘Mass Layoffs Are Last Resort’ Apple CEO Tim Cook

According to Apple’s Chief Executive Officer, Tim Cook, the current tech layoffs are inevitable during global turmoil. He also stated that reducing the headcount in the office is like a “last resort” for him. The tech giant Apple clearly stated that it has decreased the number of new recruitments. By reducing the recruitment rate, the company will be able to save a few more bucks.

Tim Cook is not in favor of zero hiring, the company would be recruiting new workers but at a slower rate than before. He told CNBC that “mass layoffs is not something that we’re talking about at this moment”. The CEO of Apple further said, “We’re continuing to hire, just at a lower clip level than we were before. And we’re doing all the right things by challenging the things that we spend, and we’re just finding a few more ways to save on it.”

However, as per the report, the iPhone maker cut head counts in early April in part of its corporate retail division. Bonuses provided to the employees have also been delayed. During the pandemic, other tech giants recruited tremendously, unlike Apple. This puts the company in a better position right now. Apple can still survive without a mass layoff.

In its March quarter, the iPhone maker recorded a generated revenue of $94.8 billion. This record was unexpectedly better. “We achieved all-time revenue records across App Store, Apple Music, iCloud, and payment services. And now, with more than 975 million paid subscriptions, we’re reaching even more people with our lineup of services,” Cook informed.