Apple lays off 100 contract employees to cut costs – India Times Hindi News

Tech giant Apple last week laid off about 100 contract-based recruiters in an effort to slow hiring and spending, media reports said.

Recruiters, who are responsible for hiring new employees at the company, were told that the layoffs reflected changes in Apple’s business needs, CNBC reported, citing Bloomberg.

According to the report, although the move is unusual for the California-based tech giant, Apple isn’t the only company slowing down hiring.

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Other tech giants, including Microsoft, Amazon, Meta, Tesla and Oracle, have cut or cut hiring in some departments in recent months, as they battle inflation and tighten their belts ahead of a potential economic slowdown.

“We see inflation in our cost structure,” CEO Tim Cook said last month.

“We see it in things like logistics and wages and some silicon components. And we are still hiring, but we are doing it intentionally,” Cook said.

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According to the report, not all of the company’s contractors were let go, and according to the report, Apple is still keeping its full-time employers on board. Terminated contractors would receive benefits and be paid for two more weeks.

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