Apple Reportedly Plans to Slow Hiring and Cut Spending in 2023

Apple reportedly plans to slow hiring and cut spending in some divisions next year to cope with a potential economic downturn.

That's according to Bloomberg which cites sources familiar with the matter. The report states that the changes will not affect all teams. Besides, the company is said to be still planning "an aggressive product launch schedule" next year including the launch of the long-rumored mixed-reality headset.

Apart from Apple, other tech giants including Google's parent company Alphabet, Amazon, Snap, and Meta also have taken measures to cope with a potential crisis including cutting their budgets and decelerating hiring. And companies like Microsoft, Tesla, and Meta have even resorted to cutting jobs. Tesla, for instance, decided to lay off 10% of employees, at the same time, increasing hiring hourly staff.

Although spending slowdown is not a common occurrence, Apple previously took similar measures before. In early 2019, for example, it cut back on hiring after iPhone sales didn't meet the company's expectations in the Chinese market and some other parts of the world. The company also slowed the hiring of several Apple retail store positions in April.