• Send Us A Tip
  • Calling all Tech Writers
  • Advertise
Saturday, July 12, 2025
  • Login
TechStory
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
TechStory
No Result
View All Result
Home Markets

Apple Implements New Cost-Cutting Measures, Delays Bonuses for Corporate Employees

by Indrajeet Giram
March 15, 2023
in Markets
Reading Time: 2 mins read
0
Apple Implements New Cost-Cutting Measures, Delays Bonuses for Corporate Employees

Apple Implements New Cost-Cutting Measures, Delays Bonuses for Corporate Employees

TwitterWhatsappLinkedin

You might also like

Cloudflare Introduces Pay-to-Crawl System to Curb Unregulated AI Scraping

Indeed and Glassdoor Lay Off 1,300 Employees as AI Reshapes the Hiring Industry

Fipola Shuts Down Abruptly, Leaving Employees Unpaid and Unemployed

Apple Inc. has delayed bonuses for certain corporate divisions and expanded its cost-cutting efforts to streamline operations during uncertain times. The shift will reduce the frequency of bonuses for some of Apple’s corporate workforce, as the company limits hiring for more jobs and leaves additional positions open when employees depart.

Previously, Apple distributed bonuses and promotions once or twice per year depending on the division, with the twice-a-year teams receiving bonuses and promotions in April and October.

However, under the new plan, these teams will no longer receive bonuses or promotions next month, and all divisions will move to an annual schedule, with payments occurring only in October.

While the majority of Apple’s divisions had already moved to a once-a-year schedule for bonuses and promotions, some staff in operations, corporate retail, and other groups were still on the outgoing biannual plan.

Apple Implements New Cost-Cutting Measures, Delays Bonuses for Corporate Employees
source : techcrunch.com

The move will affect engineers, mid-level managers, and other non-managers but will not apply to senior employees at the director level and above, who typically receive their bonuses quarterly.

Apple’s decision to delay bonuses and expand its cost-cutting efforts is in line with other Silicon Valley companies, as the uncertain economic climate caused by galloping inflation and recession fears has pushed them to adopt a more cautious approach.

While Apple has avoided mass layoffs like its tech peers, it has reduced budgets, cut headcount goals, and paused hiring across several divisions.

While employees will still receive their full bonuses in a single payment, rather than two installments, the change could come as a blow to staff, especially because Apple has not provided much advance notice in some cases.

Apple’s New Cost-Cutting Measures

Many workers depend on bonuses for personal budgeting, and the move could potentially help retain employees who may have planned to leave the company after receiving the April payout. However, the alteration may also lead to increased job dissatisfaction among employees and a decrease in productivity.

To further reduce costs, Cook is taking a pay cut himself, with his compensation for 2023 dropping by over 40% to around $49 million.

Apple’s human-resources department has also been examining how often employees come to the office, requiring employees to work from an Apple building three times per week, which has raised concerns among staffers who fear that increased scrutiny on office attendance is a precursor to the company firing workers who don’t meet the three-days-a-week threshold.

Despite these cost-cutting measures, Apple continues to invest in innovation. The company has been able to avoid layoffs by being more measured in its hiring and spending during the pandemic, unlike other big Silicon Valley companies such as Meta Platforms Inc. and Alphabet Inc.’s Google, which have undergone deep cuts.

However, the company’s employees are still feeling the effects of the sales slowdown and the more cautious approach to spending and hiring.

Tags: #apple_servicesbonusesBusinessentrepreneurshipInvestmentiPhoneMarketMarketsPromotionsSilicon Valleytech
Tweet54SendShare15
Previous Post

Glassnode report shows a record 67.7% of all BTC has remained unmoved for over a year

Next Post

Mobile-First Design: The Best Online Casinos in New Zealand are Optimised for Convenience

Indrajeet Giram

📚 Avid reader 🔋constant learner curious analyzer @ everything 📝Business & Economic Journalist ✍️

Recommended For You

Cloudflare Introduces Pay-to-Crawl System to Curb Unregulated AI Scraping

by Harikrishnan A
July 12, 2025
0
Cloudflare Introduces Pay-to-Crawl System to Curb Unregulated AI Scraping

Cloudflare, a key player in internet infrastructure, is taking aim at the growing issue of artificial intelligence bots freely scraping online content. As AI models hunger for data,...

Read more

Indeed and Glassdoor Lay Off 1,300 Employees as AI Reshapes the Hiring Industry

by Harikrishnan A
July 12, 2025
0
Indeed and Glassdoor Lay Off 1,300 Employees as AI Reshapes the Hiring Industry

Job search giants Indeed and Glassdoor are laying off more than 1,300 employees as part of a company-wide restructuring. The cuts, affecting teams focused on research and development,...

Read more

Fipola Shuts Down Abruptly, Leaving Employees Unpaid and Unemployed

by Ishaan Negi
July 11, 2025
0
Fipola Shuts Down Abruptly, Leaving Employees Unpaid and Unemployed

Chennai-based meat delivery startup Fipola Retail India Pvt. Ltd., once seen as a rising player in the southern Indian market, has suddenly shut its doors, leaving 19 employees—primarily...

Read more
Next Post
Mobile-First Design: The Best Online Casinos in New Zealand are Optimised for Convenience

Mobile-First Design: The Best Online Casinos in New Zealand are Optimised for Convenience

Please login to join discussion

Techstory

Tech and Business News from around the world. Follow along for latest in the world of Tech, AI, Crypto, EVs, Business Personalities and more.
reach us at [email protected]

Advertise With Us

Reach out at - [email protected]

BROWSE BY TAG

#Crypto #howto 2024 acquisition AI amazon Apple bitcoin Business China cryptocurrency e-commerce electric vehicles Elon Musk Ethereum facebook flipkart funding Gaming Google India Instagram Investment ios iPhone IPO Market Markets Meta Microsoft News NFT samsung Social Media SpaceX startup startups tech technology Tesla TikTok trend trending twitter US

© 2024 Techstory.in

No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to

© 2024 Techstory.in

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?