Google cut several jobs, joining other tech giants including Microsoft, Amazon, Meta, and Twitter. Apple is currently the only significant tech business without any active layoffs.
Many in the tech sector held their breath when digital behemoths like Google, Amazon, Microsoft, and others announced big layoffs, hoping that Apple would follow suit. Apple hasn't fired any employees, though, and it doesn't have any immediate intentions to do so.
Tim Cook, the CEO of Apple, has said that firing employees are the last choice and that he will look for other ways to control costs. Although he hasn't completely ruled them out, Apple has so far been able to avoid layoffs.
Let’s know why Apple hasn’t conducted layoffs or why the recession and economic downturn have not yet had an effect on Apple.
(Also Read: 7th Pay Commission: Government employees' salary hike likely to be announced during Holi, know how much)
According to sources, Cook thinks his pay is simply too excessive. He will now get an almost 50% decrease in income from the corporation as a result of his salary cut.
Earlier Tim Cook’s salary was USD 99.4 million which included a base salary of USD 3 million and around USD 83 million in the form of bonuses and stocks. Apple CEO's new payment will be USD 49 million overall. Included in this are a USD 3 million basic pay, a USD 6 million bonus, and a USD 40 million equity value. In addition, Cook's share of the stock units, which is dependent on Apple's success, will increase from 50% to 75%, reported India Today.
Apple hired fewer people than rival companies
Overhiring was a significant factor in the recent tech layoffs. During the covid epidemic, Apple did not do this. There was a general hiring freeze in reaction to the overall economic stress that all of the companies are facing, even if Apple stated that it would continue to employ for some roles. Compared to its rivals, Apple has employed at a significantly slower rate, with only 17,000 new employees hired between 2020 and 2022.
(Also Read: Rule 72, 114, 144: Know these 3 key investment rules)
Apple, unlike other major IT businesses, does not invest in giveaways
Contrary to most major IT businesses, Apple does not offer staff free lunches, which helps the business save a sizable sum of money. Apple may also alter additional perks or benefits it provides, though these modifications may not be significant.
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
 "Unlike Google, Amazon, Salesforce layoffs, Apple steered cleared from firing employees, know reasons")
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
)
){kind=small}
){kind=small}
)
)
)
)
)
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}