Apple reportedly cuts budgets and implements freeze on new hires

Apple is reportedly cutting budgets and freezing new hires as it battles uncertain economic markets.

According to a new report from Insider, the company has “paused almost all hiring” for the time being and plans to keep the freeze in place throughout 2023 to lower expenses. Tim Cook previously revealed Apple had slowed its hiring rates due to economic concerns, but he said he would still be hiring on a “deliberate basis”. This report suggests that Apple will not hire any new staffers until markets recover.

A separate report from Bloomberg previously revealed Apple planned to lay off several recruitment contractors, and today’s Insider report backs that up. They cite three sources with “close knowledge of conversations” that Apple would not be onboarding new hires for the foreseeable future.

“This person — who has direct knowledge of internal conversations at the tech behemoth — said Apple had designated “no budget” for additional headcount for company positions in the coming year. The person characterized the company as being in a hiring freeze,” the Insider report read.

Speaking to Insider, an Apple spokesperson said: “We are continuing to hire, but given the economic environment, we’re taking a deliberate approach in some parts of the business.

“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.”

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