Apple becomes latest major tech company to rein in hiring, spending plans

Apple Inc. is the latest major technology company to rein in hiring and spending plans, adding to the evidence that even Silicon Valley stalwarts are worried about a recession in the coming months.

The iPhone maker is looking to limit expenditures and job growth at some of its divisions, Bloomberg reported Monday, though Apple hasn’t adopted a companywide policy. The more cautious stance mimics the approach of its tech peers, including Amazon.com Inc., Alphabet Inc.’s Google and Microsoft Corp., which have all taken steps to decelerate spending.

The news sent stocks sliding and increased trepidation surrounding tech earnings season, which goes into full swing this week. It may be difficult for companies to reassure jittery investors.