Apple plans to go slow on hiring

Apple is planning to slow hiring and spending growth next year in some units to cope with a potential economic downturn, Bloomberg News report said.
Apple iphone 12 5G smartphone in Singapore
The report said the changes would not affect all teams and that Apple was still planning an aggressive product launch schedule in 2023 that includes a mixed-reality headset, its first major new category since 2015.

The Cupertino, California-based company had about 154,000 full-time equivalent employees.

“Apple’s move reflects a broader slowdown in investing in new things, new companies and new products,” said Kim Forrest, chief investment officer at Bokeh Capital Partners in Pittsburgh. “It signifies that inflation is an issue for these companies.”

Smartphone shipments declined 9 percent in the second quarter, according to data from Canalys. Still, Apple’s iPhones remain among the most sold phones in the world, with the company holding 17 percent market share just behind market leader Samsung.

Apple typically launches a new version of its iPhone and other wearable products in September ahead of the busy holiday season.

Latest

More like this
Related

HONOR X9c launches in India: Innovation, durability, and user-centric design converge

HONOR is set to launch the HONOR X9c in...

AR/VR headset market surges 18% as Meta leads and innovation drives shift to Mixed and Extended Reality

The global AR/VR headset market is undergoing a pivotal...

OnePlus bolsters manufacturing strategy with local IoT production in India

OnePlus has announced a partnership with Optiemus Electronics to...

Nothing strengthens India strategy with local manufacturing, investment, and expansion plans

London-based tech innovator Nothing has announced the local manufacturing...