Apple Inc. will reduce hiring for some divisions amid weaker-than-expected iPhone sales and reduced revenue forecast for the fiscal 2019 first-quarter revenue, Bloomberg News reported Jan. 16, citing sources familiar with the details.
The announcement was made at a company meeting earlier this month by Apple CEO Tim Cook, the sources said. In response to a question about imposing a hiring freeze, Cook said that was not required.
Further, Cook said he has yet to decide which divisions will reduce hiring but noted that key groups like the company's artificial intelligence team will continue to hire new staffers.
Apple recently told its suppliers to reduce production of new iPhones for the January-March quarter by about 10%. Apple also cut its fiscal 2019 first-quarter revenue forecast due to weaker-than-expected iPhone sales, primarily in Greater China.
In a public letter to investors, CEO Tim Cook said the company now expects revenue of $84 billion for the quarter ended Dec. 29, 2018, down from its earlier guidance of $89 billion to $93 billion.