Apple reportedly laid off around 100 contract recruiters last week. The measure was taken in an effort to slow down hiring and spending, according to reports.
Recruiters, who are tasked with hiring new employees at Apple Inc., were told the layoffs reflected Apple’s changing business needs, citing Bloomberg, CNBC reported.
According to the report, while the move is unusual for the California-based tech giant, it’s not the only company to slow hiring. Other tech giants like Amazon, Microsoft, Tesla, Meta and Oracle have further slowed hiring or cut some departments in recent months as they battle inflation and tighten their belts in anticipation of a slowdown economic potential.
“We are seeing inflation in our cost structure,” CEO Tim Cook said last month.
“We see it in things like logistics and wages and some silicon components. And we’re still hiring, but we’re doing it on purpose,” Cook added.
According to the report, not all of the company’s contractors have been terminated and Apple is still keeping its full-time recruiters on board, according to the report. Licensed contractors will receive benefits and pay an additional two weeks.
Contributions from IANS
Latest Technology News