Why Apple is the only tech giant that still hasn't announced layoffs
source link: https://macdailynews.com/2023/01/19/why-apple-is-the-only-tech-giant-that-still-hasnt-announced-layoffs/
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Why Apple is the only tech giant that still hasn’t announced layoffs
Thursday, January 19, 2023 2:09 pm2 Comments
Many of the biggest technology companies are laying off staff amid rampant inflation and fears of a looming recession rise. But, those job cuts come after a few years of rapid expansion. Apple is an exception on both fronts.
Kif Leswing and Gabriel Cortés for CNBC:
On Wednesday, Microsoft announced it will eliminate 10,000 employees, reducing its workforce by 5%, and Amazon began conducting layoffs that will eventually slash 18,000 jobs. Microsoft and Amazon are joining tech industry peers including Alphabet and Meta which have also cut staff in recent months.
While each company is slightly different, most companies going through layoffs are blaming macroeconomic conditions and the possibility of a future recession as the reason for their belt-tightening.
But an underappreciated factor is how rapidly tech companies ramped up hiring over the last two years… Apple is a major exception: It did not appreciably increase its rate of hiring over the last two years, and also has not announced any layoffs.
Apple grew much more slowly during the pandemic. In fact, Apple’s hiring over the past few years has followed the same general trend since 2016.
MacDailyNews Take: After 20+ years of closely covering Apple, we’ve been through several recessions, big and small, under Jobs and Cook. Apple will weather any recession just fine.
Apple iPhone customers are the most recession-proof smartphone buyers. — MacDailyNews, September 7, 2022
It’s the peddlers of crappy Android dreck who’ll be the worst affected by rampant inflation and recession, not Apple. – MacDailyNews, September 16, 2022
The same goes for Mac, iPad, Apple Watch, and Apple Services customers in personal computers, tablet computers, smartwatches, and subscriptions, respectively. – MacDailyNews, October 13, 2022
The most inflation- and recession-resistant big tech company is Apple, thanks to its superior customer demographics. – MacDailyNews, October 27, 2022
When your money becomes a greater concern, you want to spend it wisely. In China and everywhere, if it’s not an iPhone, it’s not an iPhone. Further, if it’s not an iPhone Pro, it’s not an iPhone Pro. – MacDailyNews, October 27, 2022
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