Apple to curb hiring next year because of the economy, reports claim

Apple will delay hiring next year in light of economic uncertainty (Credits: Getty)

According to reports, Apple will slow recruitment in some departments next year in case the economy deteriorates further.

The move won’t affect the entire company, and the company still expects to launch a high-profile mixed reality headset next year, sources told the business outlet. Bloomberg.

Apple is expected to stop filling some roles when employees leave, and to stop adding new roles in some areas.

The company itself has not yet confirmed the story. But it mirrors the moves announced by other major tech companies that saw demand for their services grow during the early part of the pandemic.

Last week, Google chief executive Sundar Pichai told employees the company would “slow down the pace of hiring for the rest of the year.” Insider reported.

While the company will continue to recruit “engineering, technical and other critical functions,” it will begin “developing and redeploying resources to higher priority areas.”

Other companies, including Meta, owner of Facebook, WhatsApp and Instagram, and Spotify have announced similar hiring restrictions in recent weeks. Some, like Twitter and Netflix, are planning to lay off staff, according to The edge.

An uncertain economic outlook, driven by factors such as the Covid-19 pandemic, the war between Russia and Ukraine and the rising cost of living, is making even the largest tech companies more cautious than usual.

Some, like Netflix, are also losing customers they gained during the pandemic, when demand for digital services increased.

The streaming company announced that it had lost 1 million subscribers between April and July this year, a significant drop compounded by the discontinuation of services to 700,000 customers in Russia.

But this was a much smaller drop than the company had anticipated. Netflix predicted it could lose about 2 million subscribers as competition intensifies and subscription costs rise: an announcement earlier this year that saw the value of its stock plummet.

Chief executive Reed Hastings said the release of a new series of the hugely popular science fiction series Stranger Things likely cushioned the blow.

But he added: “We’re talking about knowing you’re losing 1 million instead of 2 million, so you know our excitement is tempered by the less less bad results.”

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