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Tags: apple | big tech | business | market | recession

Apple Fires Nearly 100 Recruiters as Big Tech Slashes Costs

Apple Fires Nearly 100 Recruiters as Big Tech Slashes Costs
Apple's headquarters in Cupertino, California. (Josh Edelson/AFP via Getty Images)

By    |   Tuesday, 16 August 2022 07:50 PM EDT

Close to 100 contract recruiters were fired from Apple in the past week, the latest in a program to cut hiring costs and spending from the company, Bloomberg reported on Monday.

Fired workers were reportedly informed that they would receive pay and medical benefits for two weeks before their employee badges are disabled. The terminations spanned several regions, from as far away as Singapore to their location in Austin, Texas.

The move comes after Apple CEO Tim Cook confirmed in a July earnings conference call that the company would tighten and focus its spending while it invests in more targeted areas.

“We believe in investing through the downturn,” Cook said at the time. “And so, we’ll continue to hire people and invest in areas, but we are being more deliberate in doing so in recognition of the realities of the environment.”

It’s also the latest in a series of cuts from other major tech companies, including Google, Facebook, Amazon, and Tesla, as the industry anticipates a coming major economic slowdown, according to the Daily Mail.

Tesla CEO Elon Musk announced two months ago that he planned to lay off 10% of the company’s salaried staff as he developed a "super bad feeling" about the economy, CNN noted.

“It's quite clear we expect to grow our hourly workforce. We grew very fast on the salaried side, and we grew a little too fast in some areas, and so it requires a reduction in salaried workforce,” Musk said at the Qatar Economic Forum.

"A year from now, I think our headcount will be higher in both salaried and obviously in hourly," he continued. "But in the short-term, in the next few months, we expect to see a roughly 10% reduction in salaried workforce."

Meanwhile, Meta (formerly Facebook) CEO Mark Zuckerberg has floated even more drastic cuts, reportedly warning employees that he plans to slash engineer hiring by 30% this year, per the Mail.

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Newsfront
Close to 100 contract recruiters were fired from Apple in the past week, the latest in a program to cut hiring costs and spending from the company, Bloomberg reported on Monday.
apple, big tech, business, market, recession
322
2022-50-16
Tuesday, 16 August 2022 07:50 PM
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