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.

Note: Due to the political or social nature of the discussion regarding this topic, the discussion thread is located in our Political News forum. All forum members and site visitors are welcome to read and follow the thread, but posting is limited to forum members with at least 100 posts.

Top Rated Comments

TheYayAreaLiving ? Avatar
19 weeks ago
How about Apple execs take a PAY CUT?
Score: 23 Votes (Like | Disagree)
siddavis Avatar
19 weeks ago
Sure, it's called a recession.
Score: 17 Votes (Like | Disagree)
smulji Avatar
19 weeks 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
19 weeks ago
Their SSDs might be slow and fraudulent, but I must say that HQ picture is beautiful.
Score: 12 Votes (Like | Disagree)
Realityck Avatar
19 weeks 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
19 weeks 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)

Related Stories

Apple Park View

Apple Freezes Hiring for More Job Roles to Cut Costs

Thursday November 3, 2022 3:13 pm PDT by
Apple in October paused hiring for most jobs outside of research and development, according to a report from Bloomberg. Apple is aiming to cut costs, and the new hiring freeze furthers a July plan that Apple implemented to slow hiring and spending. The pause in hiring does not apply to teams working on future devices and long-term initiatives, but sources that spoke to Bloomberg said it will ...
apple park at night 1

Apple Lets Go of Recruiters as Company Slows Down Hiring

Tuesday August 16, 2022 2:31 am PDT by
Apple is laying off as many as 100 of its recruiters responsible for finding and reviewing potential new applicants and full-time employees for the company as part of a broader crackdown on hiring and spending, Bloomberg has reported. The 100 recruiters, spread out across Apple's offices in California, Texas, and Singapore, were told they were being let go due to a shift in Apple's approach...
apple park night 2

Tim Cook Says Apple Will Continue to Hire Employees in a 'Deliberate Way' After Reports of a Slowdown in Hiring

Thursday July 28, 2022 1:50 pm PDT by
Apple CEO Tim Cook has said Apple will continue to hire employees but in a very "deliberate way," following reports that the company had plans to slow down its pace of hiring amid fears of an economic recession. “We are making deliberate decisions about where to invest our money, but we're continuing to hire, but we're just doing it in a very deliberate way," Cook said in an interview with Th...
unleashed tim cook

Tim Cook Says Apple Hiring Very Deliberately Amid Economic Uncertainty

Monday November 14, 2022 7:27 am PST by
In an interview with CBS Mornings co-host Nate Burleson, Apple CEO Tim Cook confirmed that his company is taking a careful approach to hiring amid a period of increased economic uncertainty. The full interview will air on Tuesday, but a preview is available now. "So what we're doing as a consequence of being in this period is we're being very deliberate on our hiring," said Cook, when asked...
apple ar headset concept 1

Apple's Work on realityOS 'Wrapping Up' as Focus Turns to Suite of AR/VR Apps Ahead of Headset Launch

Monday November 14, 2022 6:19 am PST by
Apple's work on the first version of its long-rumored mixed reality headset's operating system is concluding, while new hires related to the device are ramping up ahead of launch next year, according to Bloomberg's Mark Gurman. Concept render based on purported leaked information by Ian Zelbo The headset itself is rumored to run "rOS" or "realityOS," internally codenamed "Oak." Apple's work...
Apple Logo Cash Feature Blue

What to Expect From Apple's Third Quarter Earnings Results on Thursday

Tuesday July 26, 2022 11:11 am PDT by
Apple will be reporting its earnings results for the third quarter of the 2022 fiscal year on Thursday, July 28 at 1:30 p.m. Pacific Time. Apple will then host a conference call shortly afterwards to discuss the results. Keep reading for some key things to know about Apple's third quarter, including analyst expectations for revenue and more. New Products Apple's third quarter ran from...
Apple Design Team

Apple's Product Design Team Reportedly Focused More on Costs in Recent Years

Tuesday November 8, 2022 6:46 am PST by
Apple's efforts to replace its former design chief Jony Ive have been hindered by increased turnover within the company's product design team over the past few years, according to Bloomberg's Mark Gurman. The report claims that Apple has lost the majority of senior designers who worked under Ive, with many of them jumping ship to his new design firm LoveFrom, which he started after leaving Apple...
iphone 14 pro max deep purple

What to Expect From Apple's Earnings Results Today Following iPhone 14 Launch

Thursday October 27, 2022 7:59 am PDT by
Apple is set to report its earnings results for the fourth quarter of its 2022 fiscal year today at 1:30 p.m. Pacific Time. Apple CEO Tim Cook and Apple CFO Luca Maestri will discuss the results on a conference call for investors at 2:00 p.m. Pacific Time. Keep reading for some key things to know about Apple's fourth quarter, including analyst expectations for revenue and more. New...

Popular Stories

iphone 14 pro hands snowflakes 1

Best Black Friday iPhone Deals Still Available

Wednesday November 23, 2022 1:55 pm PST by
Cellular carriers have always offered big savings on the newest iPhone models during the holidays, and Black Friday 2022 is no different. Even though Black Friday is officially over, we're still tracking notable offers on the iPhone 14 and iPhone 14 Pro devices from AT&T, Verizon, and T-Mobile. For even more savings, keep an eye on older models like the iPhone 13. Note: MacRumors is an...
General Black Friday Deals 2022 Green

All the Apple Black Friday Deals You Can Still Get

Friday November 25, 2022 4:40 am PST by
Although Black Friday is now technically over, many Apple products are still seeing major discounts through the weekend as we head into Cyber Monday. In this article, you'll find every Apple device with a notable Black Friday sale that's still available. We'll be updating as prices change and new deals arrive, so be sure to keep an eye out if you don't see the sale you're looking for yet. Note:...
ipad holiday bulbs

Best Black Friday iPad Deals Still Available

Thursday November 24, 2022 12:25 pm PST by
Black Friday deals have been in full swing for the better part of a month, and even with the shopping holiday officially over, we're still seeing solid discounts on Apple devices. We're highlighting the best sales for all of Apple's product lines, and in this article you'll find the best Black Friday sales on iPad, iPad Pro, iPad Air, and iPad mini. Note: MacRumors is an affiliate partner with ...
airpods pro 2

Apple Engineer Addresses Lack of Lossless Support on New AirPods Pro

Friday November 25, 2022 2:58 am PST by
An Apple engineer has addressed the lack of lossless audio support in the second-generation AirPods Pro in a new interview. Current Bluetooth technology in the AirPods lineup means that Apple's audio products do not support Apple Music Lossless audio. Apple has previously hinted that it may develop its own codec and connectivity standard that builds on AirPlay and supports higher quality...
mac imac snowflakes

Best Black Friday iMac and MacBook Deals Still Available

Thursday November 24, 2022 1:07 pm PST by
Our Black Friday coverage continues through the weekend with the best deals you can find on MacBook Pro, MacBook Air, and iMac. As with all Black Friday deals, we aren't sure how long any of these will last, and prices are always fluctuating, so if you see something you want, be sure to buy it soon. Note: MacRumors is an affiliate partner with some of these vendors. When you click a link and...
maxresdefault

Nothing Phone 1 Displays AirPods Battery Level After Latest OS Update

Friday November 25, 2022 3:33 am PST by
Nothing Phone 1 users today began receiving the Nothing OS 1.1.7 update, which adds support for displaying the battery percentage of connected AirPods, amongst other improvements and bug fixes. If you own a Nothing Phone 1, you can check for the OTA update by going to Settings -> System -> System updates. Bear in mind that as support for displaying AirPods battery level is still an...
apple watch gold ornaments

Best Black Friday Apple Watch Deals Still Available

Wednesday November 23, 2022 9:31 am PST by
We're tracking all of the best Apple product discounts for Black Friday as they continue through the weekend, and the Apple Watch always makes a great gift around the holiday season, so you're guaranteed to find solid discounts right now. In this article, you'll discover the best Black Friday sales on Apple Watch Series 8, Apple Watch SE, and Apple Watch Ultra. Note: MacRumors is an affiliate...