Some Apple employees who were expecting a bonus in April will have to wait until October, according to a new report in Bloomberg News. Apple is also more closely monitoring travel budgets and limited hiring for some vacant positions, according to the report.
Some teams were on a twice-a-year schedule with bonus payouts in April and October, according to the report, but now they’ll receive the full amount in the fall. Apple is also more closely watching travel budgets and leaving some unfilled positions open, according to the report.
The shift is the latest example that Apple is cutting costs and watching corporate expenses closely, as competitors such as Google, Meta, and Amazon go through layoffs during a rough patch for the tech industry.
Apple hasn’t laid off employees, but it has dramatically slowed hiring in many divisions outside of engineering.
MacDailyNews Take: Apple CEO Tim Cook told CNBC in February, “we invest for the long term, and we run the company for the long term. And so if you look at what we’re doing, we’re also recognizing the environment that we’re in is tough. And so we’re cutting costs. We’re cutting hiring. We are being very prudent and deliberate on people that we hire. And so a number of areas in the company are not hiring at all.”
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