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The IT industry has had difficulty adapting to the shifting economic landscape. To keep up with the shifting expectations and economic circumstances, companies like Google, Amazon, and Twitter, among others, have let go of a significant number of staff. Apple is one business that has avoided using mass layoffs, however.

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Reportedly, CEO Tim Cook of the corporation has said that there are no immediate plans to terminate employees. Cook said that mass layoffs are the last choice for the business. Tim Cook, CEO of Apple, said that his business views mass layoffs as a “last resort.” The computer giant is taking efforts to save expenses, but instead of drastically reducing the number of jobs, it is slowing down the hiring rate.

Cook recently stated that Apple is “extremely prudent” in its hiring practices and always searching for ways to save expenses. While we are still recruiting, the pace has slowed. And by scrutinizing our spending, we’re doing the right thing; the only thing left is to discover a few more methods to cut costs, he said. Apple is in a better position than other computer behemoths to avoid layoffs since it did not recruit as aggressively during the epidemic, despite the fact that it did fire a small number of people from its corporate retail operation in April.

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Meanwhile, during the April quarter of FY23, the iPhone maker posted a net profit of $24 billion on sales of $94 billion. Strong quarterly profits were driven by the popularity of the iPhone. Apple’s iPhone sales rose 1.5% year over year to $51.33 billion. The corporation still needs to concentrate on Mac sales since it showed a decrease of more than 30% in the prior quarter while increasing its profit margins with iPhone. Sales of Macs totaled $7.17 billion. Sales of wearables, which include products like the Apple Watch and AirPods, decreased by a mere one percent to $8.76 billion.

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