Apple is reportedly joining a growing list of tech giants that are tightening the purse strings.
A November Insider report revealed has “paused almost all hiring,” and the freeze could extend into late next year.
Apple CEO Tim Cook previously shared that the company has decreased its hiring efforts amid recession concerns, but it would still hire on a “deliberate basis.” Apple has reportedly let go of a number of recruitment contractors.
The Insider report cited “three sources with close knowledge of conversations” shared the company “won’t be onboarding new hires for a number of months.” This hiring freeze remain in effect until Apple’s fiscal year, which ends in September 2023.
Insider’s sources said
This person — who has direct knowledge of internal conversations at the tech behemoth — said Apple had designated “no budget” for additional headcount for company positions in the coming year. The person characterized the company as being in a hiring “freeze.”
The second source, who has knowledge of multiple high-level conversations inside Apple, agreed that it’s experiencing a hiring freeze. The third source — a person who was pursuing a senior-level position at the company — said they had been told by a high-ranking divisional leader that “budgets are under review.” Other Apple executives reiterated similar messaging in private conversations, the third source added.
“We are continuing to hire but given the economic environment we’re taking a very deliberate approach in some parts of the business,” an Apple statement to the Insider said. “We are very confident in Apple’s future and are investing for the long term. We want to be thoughtful and make smart decisions that enable us to continue fueling innovation for the long term.”
According to Computer World, there were 1138 rounds of layoffs at tech companies globally through mid-November, affecting 182,605 people.