Apple Reportedly Plans to Slow Hiring and Spending for Some Teams in 2023

Apple plans to slow hiring and spending next year in some divisions due to potential economic downturn, according to Bloomberg's Mark Gurman. The report claims the decision is not a companywide policy and will not affect all teams within Apple.

Apple Park View
The report claims that Apple is giving select teams a "lower-than-expected budget" for spending on research and development, resources, and hiring in 2023, and adds that some teams will not be expanding or maintaining their headcount next year.

Apple is still planning an "aggressive" schedule of product launches in 2023, including a widely rumored AR/VR headset, according to Gurman.

Apple's alleged plans to slow hiring and spending in 2023 comes amid especially uncertain times, with the COVID-19 pandemic, Russo-Ukrainian War, and high inflation driving concerns about lower consumer spending and a recession.

Apple shares were trading nearly 2% lower following the report.

A few months ago, Apple reported its best March quarter ever, with $97.3 billion in revenue and $25 billion in profit. Apple is set to report its earnings results for the June quarter on July 28 at approximately 1:30 p.m. Pacific Time.

Bloomberg updated its report with additional information. This story has been updated accordingly.

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Top Rated Comments

TheYayAreaLiving ?️ Avatar
23 months ago
How about Apple execs take a PAY CUT?
Score: 23 Votes (Like | Disagree)
siddavis Avatar
23 months ago
Sure, it's called a recession.
Score: 17 Votes (Like | Disagree)
smulji Avatar
23 months ago

The whole tech industry is doing this…
Thanks Gurman, you’re late…

And why Tim Cook photo - is he taking a pay cut???
Who gives a **** what other companies are doing. The last time there was a recession, during Steve Jobs' leadership, Apple did not layoff anyone or cut back on any spending. They actually doubled down on R&D / hiring and invested their way through the recession so they could be ready when economy bounced back. That was Steve Jobs' philosophy which is vastly different than the penny pinching philosophy of Tim Cook.

"We've had one of these before, when the dot-com bubble burst. What I told our company was that we were just going to invest our way through the downturn, that we weren't going to lay off people, that we'd taken a tremendous amount of effort to get them into Apple in the first place -- the last thing we were going to do is lay them off. And we were going to keep funding. In fact we were going to up our R&D budget so that we would be ahead of our competitors when the downturn was over. And that's exactly what we did. And it worked. And that's exactly what we'll do this time." - SJ

https://money.cnn.com/galleries/2008/fortune/0803/gallery.jobsqna.fortune/15.html
Score: 13 Votes (Like | Disagree)
antiprotest Avatar
23 months ago
Their SSDs might be slow and fraudulent, but I must say that HQ picture is beautiful.
Score: 12 Votes (Like | Disagree)
Realityck Avatar
23 months ago

Maybe Apple is just tired of people requesting to work from home and not come into the office? However, so many people are happy working from home.
I have a neighbor that works for Apple from home, and she wishes to be back as it was before not like it is now. Not that far to commute to campus. The usual types that complain are the long commuters, but Apple has many workers that don't live too far because Silicon Valley is so spread out here in the south bay. So yes being stuck at home gets to you after awhile.
Score: 6 Votes (Like | Disagree)
DelayedGratificationGene Avatar
23 months ago
Lol…I’m pretty sure companies lay off and hire every year….it’s called running a company. Slow news day for Bloomberg. Gotta fabricate news when necessary.
Score: 6 Votes (Like | Disagree)

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