Apple CEO says layoffs are ‘a last resort’

Apple has so far managed to retain its employee base while its competitors laid off thousands

Thousands of people have lost their jobs due to recent layoffs at leading tech companies worldwide, but Apple employees aren’t part of that group, at least for now.

This is because Apple CEO Tim Cook belives layoffs aren’t the only answer to reduce costs.

“I view layoffs as a last resort kind of thing,” Cook told the Wall Street Journal. “You can never say never.”

While layoffs can’t be completely ignored, Cook told the publication there are other ways to reduce costs. Apple is “managing costs very tightly and is curtailing hiring in certain areas while continuing to hire in others,” he said.

But other factors also play a role in Apple retaining employees.

As 9to5Mac points out, the company didn’t rush to grow its employee count over the last couple of years like other tech companies did. Citing a January 21st report from the Wall Street Journal, Apple only grew its employee base by 20 percent between September 2019 and September 2022. In comparison, its competitors increased hiring between 57 percent and 100 percent.

However, it remains unclear if this will stay true for long. Apple’s most recent quarterly report shows the company’s most significant revenue decline since 2019.

Google and Spotify are among the many companies to recently layoff employees.

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Source: Wall Street Journal Via: 9to5Mac