Sometimes you have to tighten the belt a bit, even when your company was recently valued at a cool trillion smackers.
Apple will reportedly reduce the number of people it is going to hire. The decision follows its much-discussed revenue miss for the last quarter and concerns about iPhone sales numbers.
Following Tim Cook’s recent letter to investors regarding its anticipated revenue miss, the CEO held a meeting with employees wherein he told staff that there would be a reduction in new hires in certain areas.
While certain areas will be affected by the hiring freeze, Apple’s Artificial Intelligence division is not expected to be affected. The plans will also not affect its new office in Austin, Texas or the growth of its video team in Los Angeles. Mr. Cook was also reportedly keen to emphasize that a division’s importance to Apple’s future should not be measured by how many people it hires.
Following the meeting, Cook apparently met with a number of Senior Vice Presidents, Senior Directors, and other managers. He emphasized to them that he sees the slowdown in iPhone sales as an opportunity for Apple to innovate.
Stay tuned for additional details as they become available.
Via The Mac Observer and Bloomberg News