Apple has taken precautions to ease itself into the upcoming year gradually, cutting costs while also putting a hiring freeze in place. Apple is no stranger to a sluggish economy. Fortunately, it does not indicate that any product delays will occur.
According to a Bloomberg article from earlier, Apple would slow down the rate at which it hires potential employees since it anticipates a rather gloomy economic outlook for 2023. Now, to cut costs, the company is reportedly pausing hiring. However, this decision does not affect teams working on future devices, which was necessary because, otherwise, it might have affected the launch of the rumored AR headset as well as other devices like a full Mac lineup with cutting-edge 3nm SoCs.
The move to halt hiring will have an impact on corporate functions, conventional hardware, and software engineering positions, however, the article states that Apple can still acquire staff under specific circumstances.
Apple stated in the statement below that while it is optimistic about the future, the actions it is making are intentional.
“We are very confident in Apple’s future and are investing for the long term. We want to be thoughtful and make smart decisions that enable us to continue fueling innovation for the long term.”
Apple just reported $90.15 billion in revenue, which is significant, on its earnings call. However, other facts portray a far clearer picture of a less promising future. For instance, the tech giant’s Mac revenue is rumored to be growing at a slower rate, and Apple was compelled to restrict the manufacturing of the iPhone 14 and iPhone 14 Plus due to poor demand, which could result in lower revenue for the upcoming quarter.
The iPhone 14 Pro and iPhone 14 Pro Max, which CEO Tim Cook previously stated were tremendously popular to the point where Apple had to take measures to guarantee that demand was matching supply, are thankfully a reliable source of income for the company. It appears that the beginning of 2023 will be challenging because other industry titans, including Amazon, have also stopped hiring.
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