In a recent interview, CEO Tim Cook confirmed that Apple is taking a deliberate approach to hiring due to economic uncertainties.
Tech companies in Silicon Valley are experiencing a fresh wave of layoffs to cut costs due to the slowing US economy.
Last week, Facebook’s parent company, Meta, laid off 11,000 employees, roughly 13 percent of the company’s global workforce. Similarly, Elon Musk has fired almost half of Twitter’s 7,500 staff since he took over the company in late October.
Meanwhile, several tech companies, including Apple, are also considering laying off employees or putting hiring plans on hold.
In October, Bloomberg’s Mark Gurman reported that the Cupertino-based tech giant had paused hiring for many non-R&D roles to cut costs. Gurman’s report suggests that the hiring freeze affects standard hardware and software engineering roles, including corporate functions.
Now Apple has made an official comment on the matter. In an interview with CBS Mornings, CEO Tim Cook confirmed that the company is taking a cautious approach to hiring due to the slowing economy.
So what we’re doing as a consequence of being in this period is we’re being very deliberate on our hiring,” Cook told CBS Mornings. “That means we’re continuing to hire, but not everywhere in the company are we hiring.”
With that said, Cook noted that Apple still believes strongly in Investing for the long term. The CEO further admitted that the company doesn’t think “you can save your way to prosperity.”
Tim Cook Discusses Apple’s Return-to-Office Policy
During a discussion about remote work, Cook noted that Apple employees are now required to work in the office three days a week. The company creates products that need holding and collaboration to perfect.
“So that takes the serendipity of running into people, and bouncing ideas off, and caring enough to advance your idea through somebody else because you know that’ll make it a bigger idea,” Cook said.
The CEO, however, admitted that its Silicon Valley offices are “a ghost town” on Fridays.
CBS Mornings says the full interview will air on Tuesday, and the Apple CEO will explore other topics, such as iPhone 14’s new features.