Tim Cook reiterates that mass layoffs are a “last resort” at Apple

Thursday, Apple shared its second quarter 2023 earnings report with revenue of $94.8 billion, down 3% year-over-year. Yet CEO Tim Cook insists that mass layoffs are not part of Apple’s current plans. He reiterated today that he sees the job cuts as a ‘last resort’.

Apple CEO says layoffs not an option

While tech giants love Amazon, GoogleAnd Meta have laid off thousands of employees recently, Apple avoided doing so. In an interview with CNBC, Cook said a mass layoff of employees “is not something we’re talking about right now.” He added that, unlike other big tech companies, Apple considers layoffs “a last resort.”

This isn’t the first time Cook has said Apple isn’t planning any massive layoffs at this time. In February, the executive told the the wall street journal that “you can never say never” but that Apple managed costs in other ways to avoid mass layoffs.

However, while Apple isn’t cutting thousands of jobs like other Silicon Valley companies, some positions there have been affected by the ongoing economic downturn. Last month Apple cuts hundreds of jobs development and preservation teams, which are responsible for building Apple Stores and other company facilities around the world.

Internally, Apple communicated the job cuts as a “streamlining effort” rather than layoffs. The company told employees that the changes should “improve the upkeep of stores globally” and that affected employees will have Apple’s support. Some of the affected employees were able to apply for other positions within the company.

You can read Apple’s full earnings release in this article at Apple Newsroom. Stay tuned 9to5Mac for more coverage of the AAPL results call with Tim Cook and Luca Maestri next. You can also listen live via the the company’s investor relations website at 2:00 p.m. PT/5:00 p.m. ET.