Apple Reportedly Laying Off Some Corporate Retail Employees As It Finally Succumbs To The Aftermath Of A Slowing Economy

wccftech.com:

As Apple attempted to stave off layoffs as much as it possibly could, the latest report reveals that the slowing economy and other factors got the better of the company’s last-ditch efforts. The Cupertino firm now plans to downsize its corporate retail employee headcount, but it is possible that these workers are placed in any of the company’s other divisions that offer a similar role.

Though Bloomberg does not have the exact figure, the report states that the number of employee cuts are very small. However, it is unknown if Apple will cut down more employees with its downsizing plan or if this is the only one we will hear about. Additional information from the report mentions that Apple told employees that they were not being laid off, but there were changes being executed in an attempt to improve the upkeep of its retail stores.

The employees that are cut by Apple have the opportunity to apply for a similar position in the company. If workers are not interested in re-applying, they may get up to four months of pay, which should be sufficient if they seek employment elsewhere. Last month, it was reported that Apple would not announce any layoffs. Instead, the company was following other cost-cutting measures such as delaying bonuses, slowing down additional hires, and seizing various product development plans.

Apple’s CEO Tim Cook was also said to take a 40 percent pay cut, and during the firm’s Q1 2023 earnings call, the Chief Executive said that laying off employees would be viewed as a last resort. Overall, the situation is not as grim as other technology companies, likely because Apple did not hire aggressively. Unfortunately, this decision cost giants like Microsoft, Google, Amazon, and others heavily in the long run,