Apple is reportedly defying the trend by retaining the majority of its workforce, despite a recent pattern emerging where technology companies have carried out big layoffs. The California-based company, according to one source, is not immune to the shifting global scene, and it’s probable that some severe judgments may be put into effect in 2023.
The first company to announce a large layoff was Meta, which eliminated 11,000 positions. Microsoft then said that it will lay off 10,000 workers and consolidate many areas, including gaming. Similar to Amazon, which said it will lay off 18,000 staff, Google was the newest entrant, terminating the employment of 12,000 workers. Despite the fact that reports claim Apple still let go of non-seasonal workers, the iPhone manufacturer seems to be the one surviving all of this mayhem.
According to The Wall Street Journal, the technology giant only employed 20% more people from September 2019 to September 2022, bringing its total number of full-time employees to 164,000. This indicates that Apple adopted a non-aggressive recruiting strategy. The number of recruits at Meta, Amazon, Microsoft, and Google, on the other hand, increased by a whopping 94 percent within the same period.
The iPhone maker has been better positioned than many rivals to date in part because it added employees at a much slower clip than those companies during the pandemic […]
From its fiscal year-end in September 2019 to September 2022, Apple’s workforce grew by about 20% to approximately 164,000 full-time employees.
Meanwhile, over roughly the same period, the employee count at Amazon doubled, Microsoft’s rose 53%, Google parent Alphabet Inc.’s increased 57% and Facebook owner Meta’s ballooned 94%.
Apple’s In-House Policies and Effective Hiring Prevented it From Becoming a Victim of the Wave of Layoffs
Apple has managed to avoid any huge layoffs, according to The Wall Street Journal, because of its solid corporate base and modest recruiting pace. Even yet, the business may need to make severe changes to halt the financial bleeding if the economy continues to slow down. For instance, in 2022, we wrote that CEO Tim Cook would make hiring decisions this year with great “deliberation,” only choosing those who would provide the greatest value to the business.
Apple reportedly “runs lean,” investing less in employee incentives than other businesses, according to the WSJ. In contrast to Google, where workers are provided free meals, in Apple Park, employees are responsible for paying for their cafeteria lunches. Employee incentives may genuinely improve profitability by assisting with recruiting and retention at very little cost. For instance, Apple’s main campus has a medical facility on-site.
Apple could be compelled to make adjustments or eliminate employee benefits to maintain its financial reserves. Contrary to Google and Meta, it does not provide free lunches to workers who are on its corporate campus. Although this choice may not be well received, it is still a technique to save unneeded money from being spent. We will keep an eye on Apple’s behavior throughout the year and let our readers know if the corporation has taken a choice of that kind.
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