Tim Cook, chief executive officer of Apple Inc., smiles as he greets customers during the opening of the new Apple BKC store in Mumbai, India, on Tuesday, April 18, 2023.
Indrani Aditya | Bloomberg | beautiful pictures
Apple No major layoffs planned, CEO Tim Cook told CNBC while discussing company income on Thursday, in stark contrast to Big Tech peers like Alphabet, meta, Microsoft And Amazonincluding cut thousands of employees This year.
“I consider it a last resort and so mass layoffs are not what we’re talking about at the moment,” Cook told CNBC’s Steve Kovach.
Cook did not rule out job cuts but said that Apple had no plans and such a move would be a “last resort”.
apple is cut down the costsHowever, and that has slowed hiring, the CEO said.
“We’re continuing to be extremely cautious in our hiring. We’re continuing to hire, just at a lower clip rate than before,” Cook said. “And we’re doing all the right things to challenge the things we spend, and we’re just looking for some more ways to save.”
Apple slow hire during the pandemicc than many of its rivals. That’s one reason why it might be better not to lay off employees now in response to macroeconomic conditions.
But the company is also still extremely profitable. In its time March quarter earnings report on Thursday, it reported $24 billion in net income on $95 billion in total revenue.
Correction: Apple reported $95 billion in total revenue after the bell on Thursday. An earlier version gave the wrong number.
