Apple Will Hire Less Employees Due To Slowdown; Joins Facebook, Tesla In Slashing New Hires

Apple Inc. is reportedly planning to halt employment and expenditure growth in some units next year to prepare for a future economic slowdown.

Apple To Halt Recruiting And Expenses For Future Economic Slowdown

The world’s most valuable company, Apple, could follow a rising number of American businesses, such as Tesla Inc. (TSLA.O) and Meta Platforms (META.O), in limiting recruiting.

The price of Apple shares reversed course and fell 1.6 percent to $147.6.

Apple’s aggressive product launch timetable for 2023 still includes a mixed-reality headset, its first significant new category since 2015. Additionally, the adjustments would not touch all teams.

Recent months have seen an increase in concerns that the Federal Reserve’s aggressive interest rate increases to combat an unrelenting rise in inflation could send the economy into a recession. Concerns about consumers’ potential to reduce their expenditure on discretionary items like smartphones have also been sparked by the pricing pressures.

According to figures from Canalys, the second quarter saw a 9 percent fall in smartphone shipments. Even still, the data showed that Apple’s iPhones continue to be among the most popular smartphones sold worldwide, with the company retaining a 17 percent market share slightly behind market leader Samsung.

Ahead of the busy holiday season, Apple normally releases a new version of its iPhone and other wearable items in September.

The Cupertino, California-based business employed over 154,000 full-time equivalent workers as of its most recent annual report.

Latest IPhone 15 Series Leaks Reveal Key Details, Under-Display Camera Tipped

We reported recently that iPhone 15 lineup is being rumored to be the first iPhones to sport the USB Type-C port instead supporting the Lightning cable.

Popular Apple analyst Ming-Chi Kuo in the latest tweet said the iPhone 15 lineup will feature USB Type-C port and not the Lightning cable. 

Coming to the under display camera, iPhone 15 Pro and Pro Max models are speculated to be using the next-gen under-display camera developed by Samsung and OTI Lumionics. 

Also, the iPhone 15 Pro phones are said to feature a 5x periscope lens in 2023. The leak hints at iPhone 15 Pro models with 5x periscope camera, as analyst Jeff Pu earlier reported.