Tim Cook Says Apple Still Not Considering 'Mass Layoffs'

[MacRumors]

Apple CEO Tim Cook today said he still views mass layoffs as a "last resort," and ensured this is not something the company is considering right now.

"I view that as a last resort and, so, mass layoffs is not something that we're talking about at this moment," said Cook, in an interview with CNBC.

Major tech companies like Google and Facebook parent Meta have laid off tens of thousands of employees in recent months amid economic uncertainty, after aggressively hiring during the COVID-19 pandemic. Apple has not made any mass layoffs of full-time employees, but the company has reportedly laid off some corporate employees within its retail teams, let go of some contracted recruiters, and stopped hiring for some roles.

In a regulatory filing last year, Apple said it had approximately 164,000 full-time equivalent employees as of September 24, 2022.

Article Link: Tim Cook Says Apple Still Not Considering 'Mass Layoffs'

 

[sw1tcher]

No mass layoffs, just continue their hiring freeze and a few cuts here and there every now and again

 

[riverfreak]

You cannot lay-off mass. But you CAN convert it to energy.

 

[ethanwa79]

A company that makes $24 BILLION PROFIT per QUARTER should never be considering mass layoffs. So I'm glad they aren't.

 

[NEPOBABY]

Tight ships don’t need to throw their sailors into the ocean.

 

[newyorksole]

they have been trimming fat and should continue to do so. they never would need to do a “mass layoff” though I imagine.

with their profits… that would be ridiculous.

 

[TechnoMonk]

If Tim Cook is smart, he should double down on some initiatives and increase the R&D resources and budget. Good time to get ahead when industry is cutting down.

 

[tomtad]

I wish they'd direct some of their huge workforce into rebuilding Music for Mac

 

[TheYayAreaLiving 🎗️]

I wish they'd direct some of their huge workforce into rebuilding Music for Mac

or a stock Calculator App for an iPad.

 

[NEPOBABY]

or a stock Calculator App for an iPad.

Use Calcbot. You‘ll never use anything else again. It’s that good.

 

[sw1tcher]

I wish they'd direct some of their huge workforce into rebuilding Music for Mac

... making Siri better and more useful.

 

[tridley68]

Of course he's not going to come right out and say that and start a panic.

 

[tgwaste]

I'm very much a capitalist but when you make 21B PROFIT for a quarter and you do a mass layoff thats corrupt.
Glad they are not doing this.

 

[G.McGilli]

They only just announced 24Billion in profit for the last 3 months...

I'm sure layoffs will be coming soon since that unionized store has asked for a 10% pay increase for employees... that would be at least $100,000 a year lol

 

[lazyrighteye]

From what I understand - and admittedly, this is not AT ALL my lane - the most likely way the economy returns is through mass layoffs: they need higher unemployment numbers so less citizens are able to buy goods and prices can start dropping. That’s the scenario the Fed is actively trying to force. Unfortunately.

 

[TechnoMonk]

or a stock Calculator App for an iPad.

Oh no. I have calculator app in the AppStore. Don’t rob the little guy. 😂

 

[Kierkegaarden]

If Tim Cook is smart, he should double down on some initiatives and increase the R&D resources and budget. Good time to get ahead when industry is cutting down.

I agree — and they should drop the dividend — it is small to begin with, but this would free up over $12B per year. They could buy companies with this, produce much more content each year, get into different markets — many opportunities. Google, Amazon, Tesla, and Meta don’t offer any dividend.

 

[LaudMusic]

I would love once to see that a CEO and senior C leave and management who make millions year in salary take huge pay cuts in order to divert money to people so they don't have to be laid off!!! Just think how many people's jobs can be saved if someone that makes $20-30M/year said, just give me $5M or less so we can save jobs. (pun intended) So many 6 figure and less people can continue to support their families and propel the company forward during the lean times. Just imagine... We need less of "I deserve this" and more "it's about team, not me."

 

[Baritone_Guy]

From what I understand - and admittedly, this is not AT ALL my lane - the most likely way the economy returns is through mass layoffs: they need higher unemployment numbers so less citizens are able to buy goods and prices can start dropping. That’s the scenario the Fed is actively trying to force. Unfortunately.

Actually there is nothing wrong with the economy. Just the opposite in fact and that is what is driving inflation. Too much money creating too much demand is causing the inflation.

The rate hikes are trying to cool inflation which has the effect of lowering sales which is what drives the layoffs.

Pretty much a no win situation except for folks with a lot of cash sitting around.

 

[GMShadow]

Apple didn't surge hire for the pandemic, so there's no need to cut back now as the others did.

 

[lazyrighteye]

Actually there is nothing wrong with the economy. Just the opposite in fact and that is what is driving inflation. Too much money creating too much demand is causing the inflation.

The rate hikes are trying to cool inflation which has the effect of lowering sales which is what drives the layoffs.

Pretty much a no win situation except for folks with a lot of cash sitting around.

Ha! Like I said, not my lane. 😂

 

[Aston441]

Of course he's not going to come right out and say that and start a panic.

I tend to agree. Cannot count the times I've seen similar statements from CEOs, a few days to months before the hammer drops.

 

[blazerunner]

What, he doesn't want the CEO bonus everytime there's layoffs? Something doesnt pass the smell test.

 

[nutmac]

I'm very much a capitalist but when you make 21B PROFIT for a quarter and you do a mass layoff thats corrupt.
Glad they are not doing this.

Google made a $15B in profit last quarter ending March and is doing massive layoffs to improve the margin and boost the stock price. And as a job well done, their CEO just gave himself a hefty raise.

 

[Osxguy]

Most of apples employees are contractors. Most of them are getting let go. Most do not know this.