Apple to reportedly slash jobs in Corporate Retail Teams

Apple to reportedly slash jobs in Corporate Retail Teams | The Entrepreneur Review

Apple has been working hard to avoid mass layoffs during the current economic climate, but the company has had to let go of hundreds of contractors this year. Now, for the first time since a cost-cutting effort last year, Company is eliminating some positions from its corporate retail teams, specifically from the development and preservation teams responsible for building Company Retail Stores and other company facilities worldwide. Bloomberg reports that the number of positions being cut is very small, but this still indicates that even a giant like Apple is not immune to the effects of the global economy’s contraction.

A streamlining effort

Apple is communicating the job cuts as a “streamlining effort,” rather than layoffs, and the company has told employees that the changes will “improve upkeep of stores globally.” The affected employees will have support from Apple and will have the chance to reapply for other jobs at the company. Those who do not secure new roles will receive up to four months’ pay. According to reports, some management positions are also being eliminated, and affected employees will have a chance to reapply for other jobs at Company.

A Cautious Approach

Last year, sources revealed that Apple had suspended hiring outside of R&D, except when it was necessary. The company issued a statement saying that it would continue to hire but at a slower pace due to the current economic climate. Since the pandemic began, Apple has been more cautious about hiring, while other major tech companies have hired large numbers of employees. Now, these companies are initiating mass layoffs. Meta laid off around 10,000 employees last month after laying off 11,000 employees in November 2022.

Tackling the Economic Certainty

It’s hard to predict how long Apple can continue without laying off a significant number of people, given the current economic climate. The company had 164,000 employees in the last fiscal quarter. However, Apple is making efforts to support its employees and has communicated the job cuts as a “streamlining effort,” demonstrating the company’s efforts to preserve its workforce while still managing costs. Apple is known for taking a strategic and long-term approach to decision-making, and it remains to be seen how this approach will help the company navigate the current economic uncertainty.

Do You Like the Article? Share it Now!