These Are the 2 Key Reasons Apple Has Avoided Mass Layoffs — So Far
There's really no such thing as a free lunch.
From Meta to Microsoft, tech giants have conducted massive layoffs this year — with no clear end in sight.
But Apple, the world's largest technology company, has managed to stave off a brutal round of cuts by playing the game a little differently, The Wall Street Journal reported.
Related: Layoffs Affecting 1,600 Tech Workers a Day on Average in 2023
Unlike some competitors, including Google and Meta, Apple limits employee perks like free lunches and has adhered to a lean hiring approach, even amid rapid growth during the pandemic.
Take Google, for example. Known for above-and-beyond perks like free food, game rooms and innovative workspaces, the company maintained its status quo even after the transition to remote work: Those offerings became a $1,000 home-office stipend, virtual cooking classes and more, per CNN.
What's more, the hiring rates among tech's heaviest hitters speak for themselves.
Apple's workforce increased by about 20% to approximately 164,000 full-time employees from its fiscal year-end in September 2019 to September 2022. Over roughly the same period, the employee figure at Amazon doubled, Microsoft's rose 53%, Google parent Alphabet Inc.'s increased 57% and Facebook owner Meta's ballooned 94%, per WSJ.
Related: The Simple 4-Step Process That Will Help You Avoid Layoffs
Apple Inc is down more than 13% year over year.
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