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Tim Cook, CEO of Apple Inc. , smiles as he greets customers during the opening of the new Apple BKC store in Mumbai, India, on Tuesday, April 18, 2023.
Indranil Aditya | bloomberg | Getty Images
apple He has no plans to lay off a large number of workers, CEO Tim Cook told CNBC while discussing the company’s earnings Thursday, in stark contrast to peers at big tech companies like the alphabetAnd metaAnd Microsoft And Amazonwhich led to the layoffs of thousands of employees this year.
“I think this is a last resort, and so mass layoffs is not something we’re talking about at this moment,” Cook told CNBC’s Steve Kovac.
Cook did not rule out the possibility of job cuts, but said that Apple is not planning anything and such a move would only be a “last resort”.
Apple’s CEO said that Apple is cutting costs and has slowed the hiring rate.
“We’re continuing to be very careful with hiring. We’re continuing with hiring, just at a lower level than we were before,” Cook said. “And we’re doing all the right things to challenge the things we spend, and we’re just finding a few more ways to save.”
Apple has slowed hiring during the pandemic more than many of its competitors. It’s one reason he’s better off not laying off staff now in response to macroeconomic conditions.
But the company is also still very profitable. During its March quarter earnings report on Thursday, it reported $24 billion in net income on $95 billion in total revenue.
Correction: Apple reported $95 billion in total revenue after the bell on Thursday. An earlier version misspelled the number.
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