While the tech industry is seeing a huge wave of layoffs, Apple is taking the opposite approach due to new variables.
The computer and smartphone tech giant believes layoffs should be considered a “last resort” during the trying economic times.
The primary reasoning for them making this decision comes from their concerns of harming company morale and the public perception of Apple. They wish to continued to be viewed as “unstoppable” according to reports (via Wccftech).
So far, they have made other decisions to cut costs elsewhere, such as CEO Tim Cook taking a 40% pay cut from his previous year salary of $99.4 million to $49 million.
They also realize it would be tough to justify layoffs in their current situation, as Apple reportedly has generated $30 billion in profit and has $165 billion cash on hand for the company.
Meanwhile, their competitors have not been so fortunate with tech giants Microsoft, Amazon, and Meta undergoing massive layoffs of over 10,000 employees each. This includes the latter set to go through a second wave of similar size this year.
Apple also has other reasons for avoiding the reduction of their workforce. This includes their plans in the gaming sphere with their upcoming AR/VR headset that is expected to launch later this year.
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