Apple has laid off many of its contract recruiters after warnings it would slow hiring and cut spending, according to a new report.
Over the past week, Apple has laid off about 100 contractors responsible for vetting and hiring new employees, people familiar with the matter said. Bloomberg In Monday.
The downsizing step was unusual for America’s most valuable company, but follows moves by a slew of tech giants to cut costs in preparation for an economic downturn, including Meta, Alphabet, Amazon and Tesla.
Last month, Apple reportedly warned staff of plans to slow hiring and spending growth next year in some divisions.
Apple reportedly fired many of its contract recruiters after warnings it would slow hiring and cut spending. CEO Tim Cook is seen above
Apple, headquartered in Cupertino, Calif. (above), had around 154,000 full-time equivalent employees as of the date of its last report
An Apple spokesperson did not immediately respond to a DailyMail.com request for comment on Tuesday afternoon.
According to its latest annual report, the Cupertino, Calif.-based company had approximately 154,000 full-time equivalent employees.
This comes after several months of rumblings in the tech sector, which has seen a sharp decline in stock market valuations this year amid higher interest rates.
In May, Tesla CEO Elon Musk announced plans to lay off 10% of salaried staff, saying he had “a very bad feeling about the economy”.
Netflix, which has seen two consecutive quarters of net subscriber losses, cut its workforce by 150 in May and another 300 in June.
“As we continue to invest significantly in the business, we have made these adjustments so that our costs increase in line with our slower revenue growth,” the company said.
Oracle, the enterprise technology giant, said earlier this month it was set to cut “thousands” of jobs worldwide to achieve $1 billion in savings.
Alphabet, Google’s parent company, also said last month that it would slow the pace of hiring for the rest of the year.
“Like all businesses, we are not immune to economic headwinds,” Alphabet said in a regulatory filing.
Additionally, CEO Mark Zuckerberg has warned employees at Meta, Facebook’s parent company, that the company has cut plans to hire engineers by at least 30% this year.
Amazon has reportedly reduced the ranks of its hourly employees through attrition and recently halted construction of six new office buildings in Bellevue and Nashville.
A spokesperson for the online retail giant insisted the pause and construction delay will not affect Amazon’s hiring plans, reiterating the company’s proposal to create 25 000 jobs in Bellevue and another 5,000 in Nashville.
“If I had to bet, I’d say this could be one of the worst downturns we’ve seen in recent history,” Mark Zuckerberg told employees on a company-wide call in late June. .
Alphabet CEO Sundar Pichai told employees that the company would “slow the pace of hiring for the rest of the year.”
Apple CEO Tim Cook announced on Monday that starting September 5, all employees must be back at their desks at least three days a week.
The Silicon Valley company first announced in May 2021 that staff would be required to return to the office three days a week.
One of their top executives, Ian Goodfellow, Apple’s director of machine learning, announced he was resigning as a result – arguing that forcing his team back into the office was not the most productive solution for his crew.
He was hired by Google 11 days later.
Apple CEO Tim Cook has long pushed to get staff back to work and in a memo to staff, obtained by The edgesaid on Monday that the time had come.
“We are excited to move forward with the pilot and believe this revised framework will enhance our ability to work flexibly, while preserving the in-person collaboration that is so central to our culture,” Cook wrote.