Apple has paused hiring for many jobs outside of research and development, an escalation of an existing plan to reduce budgets heading into next year, according to sources.
The company took the step last month, before the release of a quarterly earnings report where it said that growth would slow during the holiday period.
The pause generally doesn’t apply to teams working on future devices and long-term initiatives, but it affects some corporate functions and standard hardware and software engineering roles, said the sources.
Apple joins other technology companies in tapping the brakes on hiring, a response to sluggish consumer spending and higher interest rates.
The iPhone maker has fared better than many tech peers this year but it is still facing an industry-wide slowdown for smartphones and computers.
Apple said that hiring was continuing “but given the current economic environment, we’re taking a very deliberate approach in some parts of the business”. The company said it was confident about the future.
“We want to be thoughtful and make smart decisions that enable us to continue fuelling innovation for the long term,” the Cupertino, California-based company said.
Apple shares, which had been up in late trading on Thursday, fell 1 per cent to $137.55 after Bloomberg News reported on the plans. The shares are down 22 per cent this year, part of a broader pullback for technology stocks.
Some teams within Apple are still able to hire in special circumstances, according to the sources, and the company continues to advertise new roles on its recruiting website.
While new roles remain open, the actual hiring process has largely been placed on hold.
The move is part of a broader effort to rein in budgets, not backfill roles and decelerate headcount growth for some teams next year. Bloomberg first reported on the push in July.
As part of the belt-tightening, Apple laid off about 100 contract-based recruiters in August. Online media company Insider reported this week that hiring freezes were under way at the company.
Apple’s fourth-quarter report confirmed that its research-and-development budget was not being squeezed. R&D spending rose 20 per cent in fiscal 2022, compared with a 17 per cent gain in the previous year.
The company continues to work on future augmented and virtual reality products, as well as a self-driving vehicle.
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Best Apple stores around the world - in pictures
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Apple said in a filing alongside its earnings report that the growth in R&D spending was “driven primarily by increases in headcount-related expenses and engineering programme costs”. Total operating expenses increased by 17 per cent.
The job slowdown goes well beyond Apple. Amazon said on Thursday that it has halted hiring of corporate employees due to an “uncertain” economy.
Lyft, Chime Financial and Stripe are cutting jobs as well while Twitter is bracing for layoffs following Elon Musk’s takeover.
Labour dispute
The insured employee may still file an ILOE claim even if a labour dispute is ongoing post termination, but the insurer may suspend or reject payment, until the courts resolve the dispute, especially if the reason for termination is contested. The outcome of the labour court proceedings can directly affect eligibility.
- Abdullah Ishnaneh, Partner, BSA Law
Jordan cabinet changes
In
- Raed Mozafar Abu Al Saoud, Minister of Water and Irrigation
- Dr Bassam Samir Al Talhouni, Minister of Justice
- Majd Mohamed Shoueikeh, State Minister of Development of Foundation Performance
- Azmi Mahmud Mohafaza, Minister of Education and Minister of Higher Education and Scientific Research
- Falah Abdalla Al Ammoush, Minister of Public Works and Housing
- Basma Moussa Ishakat, Minister of Social Development
- Dr Ghazi Monawar Al Zein, Minister of Health
- Ibrahim Sobhi Alshahahede, Minister of Agriculture and Minister of Environment
- Dr Mohamed Suleiman Aburamman, Minister of Culture and Minister of Youth
Out
- Dr Adel Issa Al Tawissi, Minister of High Education and Scientific Research
- Hala Noaman “Basiso Lattouf”, Minister of Social Development
- Dr Mahmud Yassin Al Sheyab, Minister of Health
- Yahya Moussa Kasbi, Minister of Public Works and Housing
- Nayef Hamidi Al Fayez, Minister of Environment
- Majd Mohamed Shoueika, Minister of Public Sector Development
- Khalid Moussa Al Huneifat, Minister of Agriculture
- Dr Awad Abu Jarad Al Mushakiba, Minister of Justice
- Mounir Moussa Ouwais, Minister of Water and Agriculture
- Dr Azmi Mahmud Mohafaza, Minister of Education
- Mokarram Mustafa Al Kaysi, Minister of Youth
- Basma Mohamed Al Nousour, Minister of Culture
The White Lotus: Season three
Creator: Mike White
Starring: Walton Goggins, Jason Isaacs, Natasha Rothwell
Rating: 4.5/5
Schedule:
Sept 15: Bangladesh v Sri Lanka (Dubai)
Sept 16: Pakistan v Qualifier (Dubai)
Sept 17: Sri Lanka v Afghanistan (Abu Dhabi)
Sept 18: India v Qualifier (Dubai)
Sept 19: India v Pakistan (Dubai)
Sept 20: Bangladesh v Afghanistan (Abu Dhabi) Super Four
Sept 21: Group A Winner v Group B Runner-up (Dubai)
Sept 21: Group B Winner v Group A Runner-up (Abu Dhabi)
Sept 23: Group A Winner v Group A Runner-up (Dubai)
Sept 23: Group B Winner v Group B Runner-up (Abu Dhabi)
Sept 25: Group A Winner v Group B Winner (Dubai)
Sept 26: Group A Runner-up v Group B Runner-up (Abu Dhabi)
Sept 28: Final (Dubai)
UAE currency: the story behind the money in your pockets
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ATP RANKINGS (NOVEMBER 4)
1. Rafael Nadal (ESP) 9,585 pts ( 1)
2. Novak Djokovic (SRB) 8,945 (-1)
3. Roger Federer (SUI) 6,190
4. Daniil Medvedev (RUS) 5,705
5. Dominic Thiem (AUT) 5,025
6. Stefanos Tsitsipas (GRE) 4,000 ( 1)
7. Alexander Zverev (GER) 2,945 (-1)
8. Matteo Berrettini (ITA) 2,670 ( 1)
9. Roberto Bautista (ESP) 2,540 ( 1)
10. Gaël Monfils (FRA) 2,530 ( 3)
11. David Goffin (BEL) 2,335 ( 3)
12. Fabio Fognini (ITA) 2,290
13. Kei Nishikori (JPN) 2,180 (-2)
14. Diego Schwartzman (ARG) 2,125 ( 1)
15. Denis Shapovalov (CAN) 2,050 ( 13)
16. Stan Wawrinka (SUI) 2,000
17. Karen Khachanov (RUS) 1,840 (-9)
18. Alex De Minaur (AUS) 1,775
19. John Isner (USA) 1,770 (-2)
20. Grigor Dimitrov (BUL) 1,747 ( 7)
