Sidebar Sidebar
Become a MacRumors Supporter for $50/year with no ads, ability to filter front page stories, and private forums.

Apple Expands Hiring Freeze, Delays Bonuses for Some Employees

TheYayAreaLiving 🎗 said:
All the Apple Execs are overly overpaid. Not just Tim Cook but all of them deserve a pay cut. They can survive just fine!
Click to expand...
I agree. The question is: How much does one need to make to live a comfortable life? Some are living beyond their means when they don't have to. Not going to be young forever. Save the money and enjoy the life modestly, and be grateful for the blessings and success of their careers. All that other stuffs is just being extras for the purpose of flaunting their wealth. It is what it is.
 
  • Like
  • Love
Reactions: asdfjkl;, compwiz1202, turbineseaplane and 1 other person
dcingie said:
On behalf of Cary/Morrisville NC, we’re all keeping our fingers crossed that this means they’ll scrap their plans to build an east coast Silicon Valley in our backyard 🤞
Click to expand...
On behalf of Wake Forest, about thirty minutes away from Cary/Morrisville, we’re all keeping our fingers crossed that this means Apple will stick to its plan to do a major expansion into this area. We should be so fortunate. Tim Cook and several members of his senior staff have a lot of fond memories of this area going back to their days at IBM in Research Triangle Park, right up the road from Cary.
 
Last edited:
Given the current serious problems in the global economy would you rather:

1. work for a company, like Apple, that is pausing some hiring, keeping some vacant positions open and delaying bonuses for some employees in an effort to avoid layoffs, or

2. work for one of the companies that has announced major 2023 layoffs?

www.wsj.com

The Companies Conducting Layoffs in 2023: Here’s the List

After a rash of layoffs at the beginning of the year, some companies are cutting jobs as 2023 winds down and a strong labor market shows signs of cooling.
www.wsj.com www.wsj.com

Some "highlights"

Amazon - 18,000
Alphabet - 12,000
Meta - 10,000 (their second wave of layoffs)
Microsoft - 10,000
Ericsson - 8,500
Walt Disney - 7,000
Dell - 6,600
IBM - 3,500
SAP - 3,000

And, yes, Tim would be well advised to include himself and his upper management team in the group that will have bonuses delayed. It would be a bad look to do otherwise.
 
  • Like
  • Love
Reactions: wilhoitm, zakarhino, arkitect and 1 other person
surfzen21 said:
To me it seems less about the money and more about the culture. If the company needs to cut back it should go all the way to the top. That's a rarity in a capitalistic society.
Click to expand...
You are fooling yourself if you think that happens in a socialist or communistic society. There is no socialist Apple or communist Apple. There are communist salt mines though. 😄

mikefj2004 said:
This system is coming to a cataclysmic end and no one is taking note. Banks are failing, the drums of war are beating louder than ever, disease is spreading at an unprecedented rate, natural disasters are taken place with greater frequency and strength. Apple tightening their belt is truly the laaaast thing anyone should be worried about.
Click to expand...
Banks that are making terrible investment decisions are failing. Read the SVC mission statement. Make wise investments and you will be fine. The drums of war are between two countries that have been at war for almost recorded history. Strong leadership ends wars and prevents wars. Natural disasters are not happening at a greater rate or strength.

4nNtt said:
Yeah, although this is always what happens when the Fed tries to slow down the economy. We lose things like bonuses and raises that would have spurred the economy forward, but would also increase inflation. To do otherwise is really just fighting against the economy at large. Apple will reverse this when inflation goes back to normal levels and the Fed reduces interest rates. They only have a blunt instrument, so need to take the good with the bad. It could be worse, Apple could have over hired and had to do layoffs like the rest of the tech industry that can't seem to predict even a year or two in to the future. Losing a job you enjoy because inflation is too high is the real crime.

Personally, I'd prefer the Fed add a few more tools to their tool belt. For instance, when unemployment is low and inflation is high– like it is right now– you can reduce inflation by increasing immigration. A larger working economy helps with the supply side and reduces inflation, but I guess we hate foreigners here...

Sometimes just certain parts of the economy are out-of-whack. We need more housing, but higher interest rates will cause us to build less housing. Building more housing will reduce inflation.

I'm no economist, but I don't see why we always jump to raising interest rates when there are still options on the table to fix supply side issues.
Click to expand...
Personally I'd like to see the Fed eliminated. They do nothing but add fear, doubt, and uncertainly. We'd be better off without them.

Evagoras2001 said:
Despite tim getting this huge amount of money, he said in an interview that he ll gift all his money to charities - so not necessarily a bad thing after all.

www.macrumors.com

Tim Cook Donates Almost $5M Worth of Apple Shares to Charity

Apple CEO Tim Cook recently donated 23,215 shares of Apple stock to charity, according to a filing with the U.S. Securities and Exchange Commission...
www.macrumors.com www.macrumors.com

https://amp.theguardian.com/technology/2015/mar/26/tim-cook-apple-donate-800m-fortune-charity
Click to expand...
As long as those charities are ones that are doing good work. Otherwise it'll be a disaster ~ 20-30 years from now.
 
  • Like
  • Wow
  • Disagree
Reactions: ConvertedToMac, Raebo, TheYayAreaLiving 🎗️ and 1 other person
Spock said:
Good to see they are not doing layoffs yet, I feel sorry for poor Tim though only getting paid $49 million this year... :rolleyes:
Click to expand...
CEO salaries are wild aren’t they? That 50 million in bonus/salary etc that he ISN’T getting could pay over 800 employees at 60,000 a year.

How much can 1 person reasonably even use? That 49 mil would have most of us here set for life and then some.

I don’t know what you all spend your money on though so 🤷🏾‍♂️
 
  • Like
  • Love
Reactions: compwiz1202 and arkitect
Coming up with the banana yellow iPhone does take some resources though. Smart move indeed.
 
SSDGUY said:
Under Jobs Apple almost went under. Then he pulled the candy-colored iMac rabbit out of his hat. The rest is history.
Click to expand...
Wut?

It went backwards in the 80s when he wasn't even CEO.

They brought him back on in the 90s as an interim CEO after the purchase of NeXt, and he managed to make several deals (including with microsoft) to help get Apple afloat again.
 
  • Haha
Reactions: wilhoitm
 
Realityck said:
Cash on hand can be defined as cash deposits at financial institutions that can immediately be withdrawn at any time, and investments maturing in one year or less that are highly liquid and therefore regarded as cash equivalents and reported with or near cash line items.
  • Apple cash on hand for the quarter ending December 31, 2022 was $51.355B, a 19.65% decline year-over-year.
  • Apple cash on hand for 2022 was $48.304B, a 22.89% decline from 2021.
  • Apple cash on hand for 2021 was $62.639B, a 31.12% decline from 2020.
  • Apple cash on hand for 2020 was $90.943B, a 9.56% decline from 2019.
source
Click to expand...
Time to check in-between the couch cushions for change to pay their employees.
 
  • Like
Reactions: crazynewf7
The Public Relations department at Apple has executed word acrobatics to obfuscate and obscure into opacity and oblivion the meaning of this news report:

Apple "expands" - increases​

the "freezing" - stopping​

of "hiring" - increasing employed workers.​


Translation:​

Apple has increased the stopping-of-the-increase in employing new workers. Did you catch that? Or did the PR department successfully hide the meaning in their word soup?
 
Last edited:
  • Like
Reactions: JohnArtist
You must log in or register to reply here.
Register on MacRumors! This sidebar will go away, and you'll see fewer ads.
Top Bottom
Back