Apple Joins a Slew of Tech Giants in Slowing Down the Hiring Process

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Apple to follow Microsoft and Google in slowing down hiring process
Apple to follow Microsoft and Google in slowing down hiring process

Like any other company, Apple has been hit hard by inflation and recently decided to slow down hiring.

The tech giant is not alone, as many other companies are making similar decisions; however, Apple assured employees that the hiring freeze would not be a company-wide policy.

Apple’s statement

The company’s new hiring policy will impact different industries based on sales, supply chain issues and consumer demand.

Although not all Apple teams will be affected, the company intends to produce a broader range of products next year.

In addition, the tech giant will assess the situation of sectors “on a case-by-case basis” rather than filling vacancies.

Other companies’ hiring decision

Google and Microsoft recently announced that they are changing their plans. While Google will implement the same plan as Apple, Microsoft will lay off a small percentage of its workforce.

Microsoft Chairman Brad Smith said US companies are entering a new era of hiring as fewer people enter the workforce, suggesting many companies are offering higher wages to attract more workers.

Apple delivery

Apple’s flagship iPhone remains crucial to sales.

However, regional uncertainty and economic headwinds reduced global phone shipments by 9% year-over-year in the second quarter, research firm Canalys reports.

The company noted that Apple had a 17% share of global phone shipments in the second quarter, a 14% improvement from the previous quarter.

Read also: Experts Believe Maryland’s Apple Store Unionization Could Start a Nationwide Domino Effect

The iPhone 13 remains one of the most in-demand phones, while the competitor Samsung has the largest share, with 21% of the market.

Canalys pointed out that Samsung’s strong shipments are mainly attributed to its low-end A-series phones, a remarkably affordable series compared to the iPhone 13 series.

Apple earnings report

Next week, on July 28, the company will announce its profit.

In early April, Luca Maestri, Apple’s chief financial officer, warned that the company would face several challenges in the second quarter, most notably supply constraints that could squeeze total revenue up to $ 8 billion.

However, the steady demand for the iPhone 13 shows substantial revenue despite the warnings.

Toby Zhu, an analyst at Calays, said telephone promotions and special promos would help ease supply pressure.

Read also: Apple to Introduce Two New Security Features for Extra Measurement

However, he warned that consumers are suffering from inflation, which makes it unlikely that they will be able to earn the same income to buy the new phones as last year.

Zhu also warned of ongoing downturns within the supply chain.

“While component supplies and cost pressures are easing, a few concerns remain within logistics and production,” Zhu said.

“Such as some emerging markets’ tightening import laws and customs procedures delaying shipments.”

Meanwhile, Chinese phone makers have been enduring the pressure of issues like Xiaomi, Oppo and Vivo, which have dropped to double digits, grabbing 14%, 10% and 9% global market share, respectively.

Other Apple news

Apple recently launched a new initiative to strengthen security and fight mercenary spyware and other digital threats.

Blocking mode is a tool that allows users to protect themselves from threats, especially those in important positions at work.

The tool would allow them to block most messages, disable various web technologies, limit functionality, and block Apple services such as invitations and service requests.

References:

Inflation takes a bit out of Apple’s hiring plans

Smartphone shipments fell 9% in Q2, but Apple iPhone remains in high demand despite inflation pressure


Opinions expressed by Market Daily contributors are their own.

Ken Jacobs

Ken is a lover of the arts and an angel investor in several companies During his spare time, he contributes his writings to various online magazines.

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