Apple layoff: iPhone maker plans to layoff corporate retail teams, offers 4 months of severance pay

Apple Inc. is reducing a limited number of positions within its corporate retail teams. This is the company's first acknowledged internal job losses since it started a cost-cutting initiative last year, according to people with knowledge of this situation.

It's not yet known how many individuals will be impacted, but according to Bloomberg, the number is "likely very small." According to media sources, the firm is internally marketing the move as a means to enhance operations rather than as a cost-cutting measure.

According to the research, the teams in charge of building and maintaining Apple retail shops and other facilities throughout the world are those who stand to lose the most jobs.

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Even though Apple's layoffs appear to be on a much lesser scale, it seems the corporation can no longer be used as an example of a business that hasn't resorted to employee layoffs.

A deadline of the end of the week has been set for affected employees to submit their applications for open positions at the organization. According to Bloomberg, Apple is offering up to four months of severance pay for individuals who are unable to stay.

The announcement comes amid worries about a probable economic slowdown brought on by rising interest rates, which have already resulted in significant job losses in a number of sectors in recent months. Several big tech companies have laid off more than 10,000 employees at a time.