Apple CEO Tim Cook arrives at the premiere of the third season of “Ted Lasso” at Regency Village Theater on March 7, 2023 in Los Angeles, California.
Michael Tran | AFP | Getty Images
Apple is delaying bonuses for some of its employees, according to a new report in Bloomberg.
Some teams reportedly had twice-a-year bonus payouts in April and October, but now they receive the full amount in the fall. According to the report, Apple is also keeping a closer eye on travel budgets and leaving some vacancies open.
The shift is the latest example of Apple cutting costs and keeping a close eye on corporate spending as competitors such as Google, Meta And Amazon Going through layoffs during a difficult period for the tech industry.
Apple hasn’t laid off any employees, but has drastically slowed hiring in many non-engineering departments.
“Well, we invest for the long term and run the company for the long term. So if you look at what we’re doing, we also recognize that the environment we’re in is tough. And that’s how we are. “We’re cutting costs. We’re cutting hiring. We’re being very careful and careful with the people we hire, so some areas of the company aren’t hiring at all,” Cook told CNBC in February.
“Others hire primarily in engineering. And that’s why we are prudent and thoughtful. If you look at our OpEx guidance for last quarter or what we announced for this quarter, we hit a half billion dollars under. And that’s how we squeeze out the costs,” he continued.
Last month, Apple announced December-quarter earnings that came in about 5% below those of 2021, the first year-over-year sales decline since 2019.
An Apple representative declined to comment.