Apple didn’t act the way other tech giants did during the pandemic, and that’s why the company is in a better position not to lay off employees.
As tech layoffs continue unabated amid the global recession, Apple CEO Tim Cook has said mass layoffs are his “last resort”.
As tech layoffs continue unabated amid the global recession, Apple CEO Tim Cook has said mass layoffs are his “last resort”.
The tech giant, however, is slashing costs and has slowed down the pace of hiring.
Cook told CNBC that he views the layoffs “as a last resort” and that “massive layoffs are not something we’re talking about at this point”.
He added that the company “remains extremely prudent on hiring”.
“We are continuing to hire at a lower clip level than in the past. And we’re doing all the right things by challenging the things we spend, and we’re finding some more ways to save it,” the Apple CEO was quoted as saying.
According to the report, in early April Apple laid off a small number of employees in its corporate retail division. The company has reportedly delayed the bonus.
Apple didn’t act the way other tech giants did during the pandemic, and that’s why the company is in a better position not to lay off employees.
Apple reported record revenue of $94.8 billion for its March quarter, which was better than expectations. The company sold iPhones worth $51.3 billion in the March quarter, a record for the company.
Apple Services also set an all-time record for the March quarter with $20.9 billion in revenue.
“We achieved all-time revenue records in the App Store, Apple Music, iCloud and paid services. And now, with over 975 million paid subscriptions, we’re reaching even more people with our lineup of services,” Cook informed.
Apple Macs reported revenue of $7.2 billion, in line with the company’s expectations, and iPad revenue was $6.7 billion. Revenue in wearables, home and accessories was $8.8 billion.
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(This story has not been edited by News18 staff and is published from a syndicated news agency feed)
