Tim Cook: Mass Layoffs Are a ‘Last Resort’ for Apple
Cook spoke out on the low possibility of job cuts after a strong Q2 2023 earnings report
By | EMILY RELLA | www.entrepreneur.com
As layoffs continue to plague major tech companies, one tech giant in particular seems to be narrowly avoiding axing employees, at least according to its CEO.
Apple reported strong Q2 2023 earnings on Thursday, generating $24 billion in net income on $95 billion in total quarterly revenue. Apple CEO Tim Cook told CNBC the company has no plans for mass layoffs at this point.
Cook explained that layoffs are a “last resort” for the company, but it is looking to cut costs elsewhere.
“Mass layoffs is not something that we’re talking about at this moment,” Cook told the outlet. “We’re continuing to be extremely prudent on hiring. We’re continuing to hire, just at a lower clip level than we were before. And we’re doing all the right things of challenging the things that we spend, and we’re just finding a few more ways to save on it.”
