Apple is one of the few big-tech companies that have managed to steer clear from trimming its workforce. It seems the company is trying to evade layoffs by taking some specific actions like delaying bonuses, pushing back some projects, reining in budgets, pausing hiring, keeping some roles open, laying off contractors, reducing travel budgets, making stricter about attendance and hours, and getting rid of special sick time for Covid.
Apple is trying to contain costs and make operations more efficient, which began last summer, earlier than other companies, according to Mark Gurman, Bloomberg's Mark Gurman. The report states that Apple is doing whatever it can to avoid layoffs despite the economy's shaky ground.
If it takes that route, the Cupertino giant will have a hard time explaining layoffs. The stock of the company is up 20 per cent this year. In addition to that, management is expected to unveil a new mixed-reality headset and operating system, a platform that the company hopes will set it up for the post-iPhone age.
Apple is getting ready to weather the storm by taking some stringent steps. Here are the things Apple is doing to avoid layoffs:
Pausing hiring on some teams and severely limiting hiring on others is a result of pausing hiring on some teams.
Becoming stricter about office attendance and hours in some cases has raised concerns among employees.