Apple has laid off nearly 100 contract workers in the last week
Different news outlets have reported that in the previous week, Apple Inc. had terminated the contracts of roughly one hundred temporary workers, representing the latest development in the tech industry’s tight labor market. The process of hiring included the rehiring of contract workers who had been let go. According to numerous analyses, the latest layoff by the American computer giant is part of the company’s decision to decrease expenditures and unnecessary expenses. Apple Inc. reportedly notified the contract workers that the cut in the workforce was part of the reallocation of resources. The IT company has decided to move some of its resources around so that it can better meet the needs of its operations right now.
Earlier, Apple, maker of the iPhone, made the decision to reduce open positions in some departments due to recessionary concerns. Apple CEO Tim Cook stated that the company would be more “deliberate” with its expenditure but would continue to invest in certain areas during the company’s quarterly earnings conference call. Other digital companies that have either cut off people or restricted hiring in the current economic crisis include LinkedIn, Meta, Oracle, Twitter, Nvidia, Snap, Uber, Spotify, Intel, and Salesforce, among others.
The senior leadership of Google Cloud allegedly threatened the employees in the sales team that there would be “blood on the streets” if the earnings in the third quarter were not as high as planned, causing widespread concern among Google Inc. personnel. Google’s CEO, Sundar Pichai, recently held a meeting with the entire company to discuss the importance of improving efficiency and the caliber of Google’s offerings. Employees were allegedly asked to help him and the corporation discover ways to improve the quality of customers’ services.
Pichai has already predicted that the macroeconomic environment will remain unfavorable for the foreseeable future. Just recently, Microsoft made the decision to eliminate 200 positions on its team responsible for regaining lost customers. The IT firm is said to have told 200 employees of the “Modern Life Initiative” to start looking for new jobs within the next 60 days. The back-to-back layoffs and hiring freeze by the tech corporations are part of their strategy and purpose to decrease costs and expenses that suck out resources. In the past few months, tech companies have been having a hard time because the global economy is still very unstable.