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Is Tim Cook the only CEO immune to the economic crisis?
In recent months, virtually every major tech company has announced layoffs of thousands of employees. After months of mass layoffs, there is only one Big Tech left: Apple. The global economic crisis has caused smartphone purchases to decline, China is experiencing production problems and a bad quarter is expected. Even with all this, Tim Cook (CEO of Apple) seems to be immune to the problems that have occurred on the global stage.
Management philosophy that prevents mass layoffs
The only time Apple held a massive layoff was in the year 1997, just a few months before Steve Jobs replaced Gil Amelio as CEO. There were 4.100 company employees evicted, and some projects had to be cancelled. Since then, Apple has become Apple.
The company's objective is always to launch products in the "Apple pattern", not to present great news just because the competition did. Even though the company has “created the smartphones” that we know today, the innovations in its products are usually punctual and gradual.
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After almost eight years, the main camera of the iPhone 14 Pro and Pro Max has been updated – a 12 MP sensor came out and a 48 MP one came in. In addition, Apple is expected to introduce its mixed reality headset in the coming months. She could have released this years ago, but she's being cautious, just like she is with the Apple Car.
Large hiring in the context of the pandemic resulted in the massive dismissal of several Big Tech's
Most Big Tech's took advantage of the boom in electronics purchases that occurred in 2020-2021 to hire hundreds of thousands of employees. While Apple's headcount increased by only 20%, some of its competitors saw more than 50% growth at the time.
Apple's most recent biggest layoff was in August last year, when the company laid off 100 employees out of its 164 employees. Of course, many people were laid off, but it doesn't come close to the absurd number of layoffs that occurred at other Big Tech's.
