On Thursday, Apple shared its fiscal Q2 2023 earnings report with revenue of $94.8 billion, down 3% year-on-year. Still, CEO Tim Cook insists that mass layoffs are not part of Apple’s current plans. He reiterated today that he sees job cuts as a “last resort.”
Apple CEO says layoffs are off the table
While tech giants like Amazon, Google, and Meta have laid off thousands of employees recently, Apple has avoided doing so. In an interview with CNBC, Cook stated that a mass layoff of employees “is not something that we’re talking about at this moment.” He added that, unlike other big tech companies, Apple sees layoffs “as a last resort.”
This is not the first time Cook has said that Apple is not planning mass layoffs for now. In February, the executive told the Wall Street Journal that “you can never say never” but that Apple has been managing costs in other ways to avoid mass layoffs.
However, while Apple is not cutting thousands of jobs like other Silicon Valley companies, some job roles there have been affected by the ongoing economic downturn. Last month Apple cut hundreds of positions from the development and preservation teams, which are responsible for building Apple Retail Stores and other company facilities around the world.
Internally, Apple has communicated the job cuts as a “streamlining effort” rather than layoffs. The company told employees that the changes should “improve upkeep of stores globally” and that affected employees will have support from Apple. Some of the affected employees were able to apply for other positions at the company.
You can read Apple’s full earnings release in this post on Apple Newsroom. Stay tuned to 9to5Mac for more coverage from the AAPL earnings call with Tim Cook and Luca Maestri next. You can also listen live via the company’s Investor Relations website at 2:00 pm PT/5:00 pm ET.
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