How Apple dodged major layoffs in Big Tech
Tech companies are facing some big challenges due to the ongoing economic situation. Since the start of 2023, we have heard that many companies have laid off a number of employees. But surprisingly, in those companies, Apple was not included. Ever wondered why? We will unveil the reason for this.
The company didn’t lay off thousands of workers since it was careful with its strategy since the onset of the pandemic. The company has not had massive hirings. The recent data depicts it quite well. Tim Cook already mentioned that the company is careful with hirings following the COVID-19 pandemic. Besides this, he didn’t state that the company was extra cautious with hiring too many over the course of the pandemic.
As per a report from Bloomberg, the company has only a 20% growth in employees during the 2020 to 2022 period. On the other hand, Alphabet [Google’s parent company] had a 60% increase. This data is not an indication of employee numbers, rather it shows the doubling of new hires that were added to the pre-COVID staff. Besides this, Meta [Facebook’s parent company] has added almost 90%, of extra employees. Where Microsoft added 50%, of additional workers.
Besides Apple, these companies had to cut off thousands of employees from their workforce. Reportedly, Amazon laid off 18,000 jobs and Google cut down the jobs by over 10,000. In addition to this, Bloomberg figures suggest that Apple was successful in generating more revenue per extra employee during the course of the pandemic years. Among the tech companies, Apple and Alphabet increased revenue per employee. Although the figures by Alphabet were not quite significant in contrast to Apple which doubled the revenue per worker.
However, Apple is laying off workers but the numbers are quite less in contrast to other tech companies. Back in August 2022, the company laid off almost 100 employees.
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