Apple’s Tim Cook dinner has not lower workforce amid mass layoffs; has a lesson for Large Tech cos [details]

As each Large Tech firm has introduced job cuts operating into 1000’s, Apple is but to take action and will not plan to terminate staff because it by no means employed on the tempo at which different tech giants did, in accordance with analysts.

Wedbush tech analyst Dan Ives stated that Apple CEO Tim Cook dinner, who has taken a hefty wage lower by greater than 40 per cent in 2023, did not overhire through the pandemic, studies Yahoo Finance.

“Apple by no means employed on the tempo of those different tech giants. You will see cost-cutting across the edges, however Cupertino — I imply, they’re tacticians… I believe it simply exhibits why Cook dinner is a Corridor of Fame CEO,” Ives was quoted as saying within the report.

“I believe he is in a position to navigate one other state of affairs right here when it comes to not needing to do the layoffs that different tech corporations have finished,” the analysts additional stated.

Apple’s workerrely went up by about 7 per cent in 2022 in comparison with 2021.

Cook dinner has already taken an enormous pay lower of $35 million, or greater than 40 per cent of his compensation.

In accordance with a brand new regulatory submitting within the US Securities Trade Fee (SEC), Cook dinner’s pay will drop from $84 million in 2022 to $49 million in 2023, at his personal advice.

Like many different tech corporations, Apple has additionally been hit by provide chain points. Its manufacturing in China has taken successful attributable to a recent wave of Covid infections in the one main economic system combating such a disaster.

All eyes are actually on Apple quarterly outcomes on February 2.

As per the info by layoffs monitoring web site Layoffs.fyi, 219 corporations have laid off greater than 68,000 staff in January thus far.

(With inputs from IANS)