Apple Inc. has reportedly paused hiring for non-R&D positions, and a string of other tech companies have scaled back their once-robust hiring initiatives due to the stormy economic climate. joined the
Bloomberg News reported Thursday afternoon that Apple AAPL,
recently enacted an employment moratorium that applies to “many jobs” other than research and development. This includes standard hardware or software engineering focused roles and some corporate positions. The current pause primarily doesn’t apply to more futuristic or long-term initiatives, according to the report.
According to Bloomberg, Apple’s hiring suspension is an “escalation” of the company’s previous goal of cutting budgets for 2023. It was reportedly enacted before the company’s final earnings report. I was.
The smartphone giant did not immediately respond to MarketWatch’s request for comment.Bloomberg cited Apple’s statement, saying the company is still hiring, but “given the current economic environment,” it said it was “a part of the business.” The department is taking a very cautious approach.”
The stock fell 0.7% in after-hours trading on Thursday.
Amazon.com Inc. AMZN, a fellow Big Tech company,
It told employees on Wednesday that it was suspending “additional hiring” across its workforce for several months.
“We are facing an extraordinary macroeconomic environment and want to balance hiring and investment with thinking about this economy,” said the company’s senior vice president of employee experience and technology. Beth Galletti said: The next day, the company’s corporate website.
Apple’s stock has outperformed the tech giants’ stocks this year, and is down 22% so far in 2022 as Amazon’s stock has fallen 46%.
read: Apple is rated higher than Amazon, Alphabet and Meta combined.
Small tech company Snap Inc. SNAP,
Shopify Inc. SHOP,
Peloton Interactive Inc. PTON,
Among those who have announced layoffs in recent months. His privately held Stripe attended that camp on Thursday and announced its own plans to cut his 14% of its workforce.
Apple delighted investors with its latest earnings report showing a surge in Mac sales. Management indicated that demand for the iPhone 14 is strong and the company is working to supply enough phones to satisfy consumer interest. But since then, concerns have surfaced about how the changing COVID-19 situation in China will affect the manufacturer’s device production capacity at Foxconn.