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Wednesday, August 17, 2022

Apple joins tech majors to halt hiring amid recession fears: Report

Apple Inc. has become the latest major tech company to put a lid on its hiring and slash its spending, thus adding evidence that even the largest Silicon Valley firm is facing an impending recession in the United States. Being alert. It comes after at least three other tech majors, including Google, Microsoft and Amazon, halted their hiring and laid off employees before the recession, deciding not to make new investments, to cut costs. has been closed.

According to a Bloomberg report on Monday, the iPhone maker, one of the world’s largest companies, wants to put a cap on spending and job growth in some of its sectors, but hasn’t adopted the company’s policy. This cautious stance displayed by Apple is based on Amazon.com Inc., Alphabet Inc. of Google and Microsoft Corp. Including the approach taken by its technical peers, including, as noted above, has taken cost-cutting measures.

On Monday, Apple’s shares closed with a fall of 2.06 percent on this news.

Most of the biggest tech giants, however, aren’t talking about phasing out their workforce right now and are only focusing on slowing down the pace of hiring. Overall US job growth hasn’t stopped, with payrolls increasing by 372,000 in June, Bloomberg reported.

Last week, Alphabet CEO Sundar Pichai said that Google would slow hiring at the company through the rest of the year and 2023, while also controlling investments for the same period. However, he clarified that Google is not freezing its recruitment process. “Due to the recruitment progress we’ve made so far this year, we will slow down the pace of recruitment for the rest of the year while supporting our most important opportunities,” he said, adding that Google will focus more on recruitment. Engineering, technical and other important roles.

However, this is not the case with every tech company, not even the biggest ones. Microsoft has cut jobs in a variety of groups including consulting and customer and partner solutions and is spread across all geographies. According to an earlier Bloomberg report, the layoffs affected less than 1 percent of its 180,000-person workforce, which spanned groups and geographies ranging from consulting and client and partner solutions. The company said it is still likely to end the year with an increase in the number of employees.

Elon Musk-owned Tesla Inc. laid off hundreds of employees last month and closed a California facility for Autopilot self-driving technology, Bloomberg reported, citing people familiar with the matter. The company’s AI and autopilot leader Lady Karpathy also announced her departure from the company early last week.

Amazon, which has now exceeded hiring during the pandemic, said the company was working through that problem. According to reports, in some cases, Amazon is subleasing warehouse space and has stopped the development of facilities for office workers.

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World Nation News Desk
World Nation News Deskhttps://worldnationnews.com/
World Nation News is a digital news portal website. Which provides important and latest breaking news updates to our audience in an effective and efficient ways, like world’s top stories, entertainment, sports, technology and much more news.
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