Apple managed to avoid the big tech layoffs debacle by slower hiring, according to an article by Wall Street Journal. Unlike its peers in the industry, the iPhone maker is yet to announce any massive layoffs.
Meta, Microsoft, Amazon, and Google’s Facebook are just a few of the tech giants to engage in layoffs that ran into the thousands. For many of them, the issue was that they grew too fast during the pandemic boom and could no longer afford the overhead operating cost.
Apple grew its workforce by just 20% from September 2019 to September 2022, despite its business growing and reaching 2 trillion dollars in market capitalisation.
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When compared to others, it grew its employees headcount the lowest. Microsoft grew its headcount by 53% in that period and Alphabet added 57% while Meta grew by 94%.
Slowing its hiring helped the company weather the storms better and keep its 164,000 workforce. Despite facing production troubles in China which interrupted with its business.
This is not to say that Apple may not eventually also layoff some of its employees. There is no telling what the company may do next as we reported that even its CEO, Tim Cook, demanded that a chuck of his compensation for 2023 be cut.
However, the belief is that if Apple would layoff some of its employees, it will not be to the volume that we have seen among big tech. Some believe that it may just choose to not replace employees who leave and cut some of the employment perks that they enjoy.
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