agencies
Wednesday, 08 February 2023 08:00 PM
Apple released its financial results last week for the last quarter of 2022, and the data disappointed the markets.
Revenue fell 5%, the largest quarterly decline since 2016, while profits fell 13%. iPhone sales By 8% compared to the same quarter of 2021, according to CNBC.
Experts say Apple is under pressure due to inflation and recession fears affecting the entire tech industry.
Moreover, the American company was also affected by the closure restrictions imposed by China for a long time to limit the spread of the Corona virus.
Despite all this negative news, there is one phrase conspicuously absent fromApple report Quarterly and CEO Tim Cook’s comments on that data
This phrase is layoffs, and is completely opposite to the trend adopted by many companies in the American technology sector in recent months.
Despite the layoffs of up to 200,000 employees from technology companies since the beginning of last year, Apple is still so far the only technology giant that has not announced layoffs.
Indeed, layoffs aren’t Apple’s style. The company hasn’t seen major layoffs since 1997, when Steve Jobs returned as CEO and became famous for increasing focus and cutting costs by cutting the company’s product line.
Of course, none of this means that Apple will be able to avoid layoffs forever. If the company continues to suffer from supply chain problems and revenue continues to decline, it may find that it has no choice but to do so.
But the fact that Cook hasn’t mentioned layoffs yet, and that it’s been a quarter of a century since Apple’s last major layoffs, speaks volumes about Cook’s leadership and provides a lesson for other entrepreneurs.