Bloomberg: Apple To "Cut Back On Hiring" Following iPhone Sales Slowdown

A new Bloomberg piece out today alleges that Apple plans to reduce the number of hiring in some divisions in the context of declining iPhone sales and lower-than-expected revenues during the holiday season. Meanwhile, emphasizing the decline in iPhone sales is also an opportunity for new innovations.

After Tim Cook issued a letter to shareholders earlier this month, he held an all-hands meeting with employees, where the CEO was asked whether the company would take a freeze on hiring in response. Cook said at the time that he did not think the move was an ideal solution. However, Cook said that some departments should "cut back on hiring",

Cook said he hasn't completely decided which divisions will cut back on hiring, but he said that core units like the Apple AI team will still greet newcomers at a faster pace. He also emphasized that the rate of hiring does not measure the importance of the sector to Apple's future. Moreover, the cut on hiring will not affect Apple's new Campus in Austin, Texas, or the expansion of the California area.

Apple has been actively hiring new staff for the past decade, but the growth in the number of employees has slowed in recent years. Apple added a total of 9,000 employees in the last fiscal year to a total of 132,000 employees. and added about 7,000 employees in the previous year. 
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