Apple CEO Tim Cook is cutting some corporate retail roles. Roy Rochlin/Stringer – Getty Images
Things are cooking for Apple CEO Tim Cook. After emerging from a slow fiscal quarter due to slowing demand for tech products and a slowing economy, Apple continues to push for cost-cutting measures.
The latest: job cuts across the Development and Preservation teams, the company’s retail division that oversees the maintenance and construction of Apple Stores. Most employees in these departments are required to reapply for similar jobs, the employees said bloombergMark Gorman. Those who do not do so will be laid off and receive up to four months of severance pay, a source said, although they could be rehired in a contributor role for less pay.
It’s unclear how many roles are being eliminated, sources said, but it affects those in the US, Europe and Asia-Pacific. Apple did not respond to luckComment request.
Apple has so far avoided the mass layoffs that have been gripping the tech industry, in large part because it hasn’t experienced a hiring epidemic the way companies like Meta have. Cook took over too Several steps to reduce budgets Where else to avoid putting full-time corporate workers on the hook, such as by cutting his CEO’s pay by 40%, delaying bonuses, pausing hiring, and reducing travel.
“Apple is frugal by nature,” said Shannon Cross, an analyst at Credit Suisse Group AG. luck in March, adding that its strategy “stems from management’s stewardship of shareholder dollars and a keen focus on investable growth opportunities.”
The move comes after Cook began cracking down on corporate employees regardless of his blended mandate. Zoe Schaeffer on the catwalk chirp That some teams have said that non-compliance could lead to termination, although it is not a company-wide policy. She added that Apple also tracks the attendance of its employees through badge logs and issues warnings to those who do not come in as often.
While Cook describes the job cuts as a simplification effort, he appears to be gradually dropping the hammer at Apple.