Apple may slow down hiring, cut spending in 2023

The global economic slowdown has started to spread its tentacles and the effect are being seen in the tech industry. Earlier this month, Microsoft revealed that it plans to cut 1% of jobs for the first time in five years. Even Meta — Facebook’s parent company — has cut down certain contractual jobs. And now a report by Bloomberg reveals that Apple too plans to slow down hiring and cut spending in 2023.
The report says that Apple wants to be more careful as these are uncertain times. However, slowing down on hiring isn’t a companywide policy, according to the report. The proposed changes will not impact all teams but are being done to “cope with the economic downturn.” It’s not clear what teams will be impacted by the move but it is said to happen in 2023 and not the current financial year.