Apple is planning to cut small number of jobs in some teams: Report

Apple is planning to cut a small number of roles within its corporate retail teams, Bloomberg News reported on Monday, citing people familiar with the matter. The report further added that layoffs are expected to impact Apple's development and preservation teams. Bloomberg noted that the sources have asked not to be identified because the move hasn't been announced.

If reports are believed to be true, then this will mark its first known internal job cuts ever since it began raking and scraping effort last year. However, there's no clarification on the number of positions being eliminated, but the report said it was likely very small.

So far, the iPhone maker has not issued any official statement.

Though Apple's job cuts appear to be in a small number, it's in addition to job slashes being done by big firms in the tech sector amid a shaky economy and sluggish consumer spending.

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In recent months, corporate America announced a series of job cuts in the aftermath of worries about an economic downturn due to rising interest rates have sparked.

Facebook-parent Meta Platforms last month said it would cut 10,000 jobs this year, making it the first Big Tech company to announce a second round of mass layoffs.

The people said that some management roles are also being slashed, it was mentioned that while those employees could be rehired as so-called individual contributors, they may not have the same compensation. Some employees are exempt and will keep their jobs without needing to reapply, the report said.

(With inputs from agencies)

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