Apple has always been renowned for a conservative recruiting strategy protected the corporation from huge layoffs. Top companies such as Alphabet and Amazon are doing the study. However, even iPhone manufacturers are not immune to economic downturns. The corporation reported its first year-over-year loss since before the epidemic in its quarterly results released Thursday.
The company’s sales for the quarter ended December 31, 2022 was $117.2 billion, a 5% decrease year on year. Depending on the timing of the news announcement.
CEO Tim Cook attempted to highlight the positives in the same post. “In the long run, we lead our ideals in all we do.”
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The executive spoke a bit more in his CNBC interview, focusing on three significant headwinds: iPhone manufacturing issues in China, the larger economic backdrop, and the strength of the US currency. According to him, Apple, like the rest of the world, will make strategic cuts. “We also know that the circumstances we are in is difficult,” Cook remarked. “As a result, we’re lowering costs. We’re employing fewer employees and being very selective about who we hire.”
Year on year, Mac and iPad sales were down roughly 30%, while iPhone sales were down 8%. Supply chain and manufacturing concerns have been a serious barrier for mobile phones in recent years. Meanwhile, a fresh round of Chinese lockdowns has worsened the company’s most profitable era. Apple is currently satisfied with iPhone manufacturing levels.
He said Apple, like other parts of the world, will make strategic cuts. “We also recognize that the environment we are in is tough,” added Cook. “So we’re cutting costs. We’re hiring less, and we’re very careful and careful about the people we hire.”
According to him, Apple, like the rest of the world, will make strategic cuts. “We also know that the circumstances we are in is difficult,” Cook remarked. “As a result, we’re lowering costs. We’re employing fewer employees and being very selective about who we hire.”
The corporation reported this month that Cook accepted an almost 50% pay reduction that year, leaving him with a compensation of just $49 million.
Cook’s most recent statements on strategic cutbacks are consistent with what we know about the company’s financial performance. It’s reasonable to ask if the corporation may make employment layoffs. What we know about macroeconomics According to the most recent milestone, the environment is a hardware behemoth, with over 2 billion active devices in its installed base.
