Apple froze hiring across multiple divisions in October

by ·

Earlier reports said that Apple has planned to slow down its hiring plans for next year while cutting spending in some departments to deal with a potential recession. Then Apple CEO Tim Cook said in an interview with the media that Apple’s decision-making in recruitment was carefully considered to decide where to invest resources, and the recruitment will continue, but in a more cautious way.
Apple increase OLED panel orders

Image: Apple

According to Bloomberg, Apple has made arrangements to cut costs, freezing hiring in several departments in October, which is a necessary measure but does not include the team developing the device to avoid product delays. Apple’s decision to freeze hiring will affect some of its positions, subject to change under certain conditions. Apple said, “We want to be thoughtful and make smart decisions that enable us to continue fueling innovation for the long term.”

Recently, Apple announced its fiscal fourth-quarter financial report for the fiscal year 2022. Quarterly revenue reached a record $90.146 billion, an increase of 8.1% year-on-year, beating market expectations of $88.9 billion, setting a new record for quarterly revenue; diluted earnings per share were $1.29, an increase of 4% year-on-year; net profit was $20.71 billion, with a gross profit margin of 42.3%, also setting a record.

Although the earnings report looks good, in the face of various uncertainties, Apple is not so optimistic. Some analysts pointed out that low demand for the iPhone 14 and iPhone 14 Plus has forced Apple to cut production, which means that revenue in the next quarter may be reduced.

Tags: