Mass Layoffs Are A ‘Last Resort’; Company Is Focused On Cost Reduction: Tim Cook

As tech layoffs proceed unabated amid the worldwide meltdown, Apple CEO Tim Cook has stated that mass layoffs are a “final resort” for him.

The tech giant, however, is reducing costs and has slowed down the pace of hiring.

Cook told CNBC that he views layoffs “as a last resort” and “mass layoffs shouldn’t be one thing that we’re speaking about at this second”.

He said that the company is “continuing to be extremely prudent on hiring”.

“We’re persevering with to rent, simply at a decrease clip degree than we have been earlier than. And we’re doing all the proper issues by difficult the issues that we spend, and we’re simply discovering just a few extra methods to avoid wasting on it,” the Apple CEO was quoted as saying.

Apple trimmed a small number of employees in its corporate retail division in early April, as per reports. The company has also reportedly delayed bonuses.

Apple didn’t rent the best way different tech giants did throughout the pandemic and for this reason the corporate is best positioned to not lay off staff.

Apple reported a record revenue of $94.8 billion for its March quarter which was better than expectations. The company sold iPhones worth $51.3 billion in the March quarter, a record for the company.

Apple Services also set an all-time record with $20.9 billion in revenue for the March quarter.

“We achieved all time revenue records across App Store, Apple Music, iCloud and payment services. And now, with more than 975 million paid subscriptions, we’re reaching even more people with our lineup of services,” Cook knowledgeable.

Apple Mac recorded $7.2 billion in income, in step with the corporate’s expectations and iPad income was $6.7 billion. Across wearables, dwelling and equipment, income was $8.8 billion.

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(This story has not been edited by News18 workers and is revealed from a syndicated information company feed)