The tech industry’s moment of reckoning: layoffs and hiring freezes

Tim Cook confirms that Apple’s slowing down on hiring.

In an interview with CBS Mornings, Apple CEO Tim Cook confirms the company is now being very “deliberate” in its hiring and that it’s only bringing new staff members on board in certain departments.

We believe strongly in investing for the long term and we don’t believe you can save your way to prosperity. We think you invest your way to it.

In July, Bloomberg reported Apple planned to slow hiring in 2023 and that not-quite-a-freeze may be setting in early, while other Big Tech companies like Amazon, Google, Meta, and Microsoft undergo their own hiring freezes and layoffs.