Apple reportedly delaying some employee bonuses as the company cuts costs
Publishing timestamp: 2023-03-14 15:25:07
Summary
Apple is delaying bonuses for some employees until October and closely watching travel budgets while leaving some positions unfilled. The company is cutting costs and slowing down hiring in many divisions outside of engineering, but has not laid off employees. This shift comes as competitors like Google, Meta, and Amazon go through layoffs during a rough patch for the tech industry. Apple's December quarter earnings were about 5% lower than the previous year, marking its first year-over-year revenue decline since 2019.
Sentiment: NEGATIVE
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Keywords: mobile, business news, technology, breaking news: technology, business, amazon.com inc, meta platforms inc, apple inc, alphabet inc,