Apple CEO Tim Cook said the world’s most useful company will pump the brakes on hiring — as other tech titans slash away — ahead of an anticipated recession.
Cook admitted the economic climate has forced him to freeze recent hires in some departments during an interview with “CBS Mornings” on Monday.
“What we’re doing as a consequence of being in this era is we’re being very deliberate on our hiring,” Cook said from Apple’s headquarters in Menlo Park, Calif. “Which means we’re continuing to rent, but not all over the place in the corporate are we hiring.”
Last month, the iPhone maker instituted a hiring freeze for a lot of positions outside of research and development, in keeping with Bloomberg News.
“We imagine strongly in investing for the long-term. And we don’t imagine you possibly can save your technique to prosperity. We expect you invest your technique to it,” Cook told “CBS Mornings.”
Apple CEO Tim Cook said that the corporate has slowed down its hiring, especially in some departments amidst growing recession fears.AFP via Getty Images
Apple, which tops all corporations with a market cap of $2.36 trillion, had roughly 164,000 full-time employees as of Sept. 24, in keeping with its annual report.
Cook also lamented the lack of productivity and creativity as he discussed the corporate’s return to office policy. Staff have been back at their desks just three days every week since September.
“For those who were here on a Friday, it will be a ghost town,” he said.
“We make product, and you’ve got to carry product. You collaborate with each other because we imagine that one plus one equals three,” he added. “In order that takes the serendipity of running into people, and bouncing ideas off, and caring enough to advance your idea through any person else because you recognize that’ll make it an even bigger idea.”
Apple’s hiring slowdown comes as Amazon announced plans to chop 10,000 jobs in its corporate and technology sectors starting this week, in keeping with the Recent York Times.
Last week, Meta announced the most important layoffs in the corporate’s history, slashing about 11,000 jobs. And Twitter swung the axe on roughly half of its 7,500 workforce after Elon Musk accomplished his takeover of the social media platform.
