Analyst Dan Ives believes that Apple will not lay off thousands of employees like many large technology companies do because the company is so well run by Tim Cook.
The company has also laid off 100 employees in human resources but so far it has avoided the mass layoffs that many large technology companies have made, explains Wedbush analyst Dan Ives opposite Yahoo Finance:
Apple has never laid off as many people as other tech giants. You'll see cost cutting around the edges, but Cupertino - I mean, they're tacticians. I think that shows why Tim Cook is a Hall of Fame CEO. And I think he's capable of handling a different situation without having to lay off employees like other tech companies have done.
Tim Cook is a Hall of Fame CEO
It was reported that Apple had imposed a hiring freeze and cut budgets. However, Cook denied this, saying that Apple was instead "very deliberate" about hiring. "That means we're still hiring, but not across the company," he said, before explaining that Apple continues to invest in the future. Wedbush recently lowered its price target for AAPL, citing the uncertain environment. But this was due to demand and production delays in China. IBM recently announced nearly 4,000 layoffs and Spotify plans to cut 600 jobs. Amazon is laying off 18,000 employees while Google and Microsoft are each laying off more than 10,000 employees. (Image: Apple)
