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Apple lays off more contract-based employees to slow hiring, spending

Other tech giants, including Microsoft, Amazon, Meta, Tesla, and Oracle, have all slowed hiring or cut back on some departments in recent months

Updated:Wed, August 17, 2022 2:23pm

By IANS

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Tech giant Apple has laid off about 100 contract-based recruiters in the past week in an effort to slow hiring and spending, media reports say.

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The recruiters, who are responsible for hiring new employees at the company, were told that the layoffs reflect changes to Apple's business needs, citing Bloomberg, CNBC reported.

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As per the report, though the move is unusual for the California-based tech giant, Apple is not the only company slowing hiring.A

Other tech giants, including Microsoft, Amazon, Meta, Tesla, and Oracle, have all slowed hiring or cut back on some departments in recent months as they grapple with inflation and tighten their belts ahead of a potential economic downturn.

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"We do see inflation in our cost structure," CEO Tim Cook was quoted as saying last month.

"We see it in things like logistics and wages and certain silicon components. And we're still hiring, but we're doing it on a deliberate basis," Cook added.

According to the report, not all of the company's contractors were let go, and Apple is still keeping its full-time recruiters on board, according to the report. The terminated contractors will receive benefits and pay for two more weeks.

IANS

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