Apple may slow down hiring, cut spending in 2023

The global economic slowdown has started to spread its tentacles and the effect are being seen in the tech industry. Earlier this month, Microsoft revealed that it plans to cut 1% of jobs for the first time in five years. Even Meta — Facebook’s parent company — has cut down certain contractual jobs. And now a report by Bloomberg reveals that Apple too plans to slow down hiring and cut spending in 2023.
The report says that Apple wants to be more careful as these are uncertain times. However, slowing down on hiring isn’t a companywide policy, according to the report. The proposed changes will not impact all teams but are being done to “cope with the economic downturn.” It’s not clear what teams will be impacted by the move but it is said to happen in 2023 and not the current financial year.
Will the reported move impact product launches?
No, according to the Bloomberg report, Apple plans to have an “aggressive product launch schedule” in 2023. Rumours have been rife about Apple launching a mixed-reality headset, which will be its first big new category in eight years. Apart from that, Apple has reportedly got big plans for Mac computers as well. Bloomberg’s Mark Gurman revealed that two new MacBook Pro models — powered by the M2 processor — are expected to arrive in 2022.
The iPhone 14 launch schedule also seems to be on track despite supply chain issues across the world. It is expected that in September 2022, Apple will launch four new iPhones. Also, it is rumoured that for the first time Apple may launch as many as three new smartwatches.
Later this month, Apple has scheduled a quarterly earnings call. Although the company doesn’t give away much information, we can expect to know more about how Apple is doing and what are the expectations for the next few quarters.