Apple Inc. has decided to cut back on hiring of some division as they received weaker sales in the holiday quarter than what was expected from the market. Apple’s CEO, Tim Cook earlier this month disclosed they would reduce hiring as a result of company’s struggle in selling products, especially in China.
Cook further added that he is yet to finalise on the division that would have to cut back on hiring. On the other hand he also mentioned that Apple’s key groups such as artificial intelligence would still continue to hire new employees on their usually pace.
This is the result of Apple’s past decade’s hiring spree which resulted into slower growth in the recent years. They have added about 9,000 employees in the recent fiscal year whereas in the earlier year, they added around 7,000 employees.
Recently apple has also notified a shift in its service strategy which opened Apple music on Amazon Devices, ability to stream media directly on TV sets from iPhones and iPads and iTunes video streaming app for Samsung TVs. Apple is also working on various partnership which would help them expand their services like Apple Music to various third party platforms.
Apple recently became the first U.S. publicly traded company to pass the $1 trillion market capitalization threshold. Although missed iPhone sales and reduction in hiring comes just few months, since then, the company has lost almost $300 billion in value.