Apple delays some employee bonuses as company cuts costs: report

Apple CEO Tim Cook arrives for the third season premiere of “Ted Lasso” at the Regency Village Theater in Los Angeles, California, March 7, 2023.

Michael Chen | AFP | Getty Images

apple The company is deferring bonuses for some employees, according to a new report Bloomberg reports.

Some teams reportedly pay bonuses twice a year in April and October, but will now receive their full bonuses in the fall. Apple is also looking more closely at its travel budget and leaving some open positions open, the report said.

The shift is the latest example of Apple cutting costs and keeping an eye on corporate spending as rivals such as Google, Yuan and amazon Going through layoffs during tough times in the tech industry.

Apple hasn’t Laid-off employeesbut it has significantly slowed hiring in many sectors outside of engineering.

“Well, we invest for the long term, we run the company for the long term. So if you look at what we’re doing, we also recognize that the environment we’re in is tough. So we’re cutting costs. We are cutting back on hiring. We are very careful and thoughtful in our recruitment.So many areas of the company are not hiring at all,” Cook said. told CNBC In February.

“Others are hiring primarily engineering-related. So we’re being cautious and deliberate. If you look at our opex guidance last quarter, or what we said we’re going to do this quarter, we had $5 billion in revenue Dollars under it. So we’re compressing costs,” he continued.

Last month, Apple reported earnings for the December quarter that were down about 5% from 2021, the first year-over-year decline in revenue since 2019.

An Apple representative declined to comment.

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