MORRISVILLE – Apple will freeze hiring, according to a report from Business Insider.
And, the hiring pause could last for months, nearly a year, according to the three unnamed sources who told the publication that the decision will impact the company’s full-time corporate employees.
The decision comes after Apple’s earnings report stood in contrast to other tech companies including Google and Meta, with the company showing an 8% increase in revenue, year-over-year, and a 1% increase in profit. But both of those figures were above analyst’s expectations, whereas Google and Meta missed Wall Street expectations.
“Like other major tech companies, even Apple is suffering from the negative impact of a worsening macro backdrop and ongoing supply chain woes, though it has done a better job of navigating through the challenging environment,” Investing.com analyst Jesse Cohen said in a statement last week.
Analyst: Apple ‘has done a better job of navigating’ a tough environment
Apple is in the process of constructing its $1 billion east coast technology hub in the Triangle, and is already leasing space for corporate employees in the region.
Business Insider notes that the company made the decision due to the current macroeconomic climate.
Earlier this week, Amazon, which operates a large distribution center in Garner, announced that it would pause hiring for corporate roles.
Elsewhere, technology startups have announced layoffs, including reports that Elon Musk will today begin Twitter layoffs. Layoffs have also been announced at Stripe, Chime, and Opendoor, among other technology and technology-enabled companies.
The Triangle Business Journal also reported the news from Apple. Apple could not be reached for comment by WRAL TechWire.
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