off-the-wire

UPDATE 1-Apple to cut small number of jobs in some corporate retail teams - Bloomberg News

Kitco Media
By Reuters
Published:
Updated:
Reuters
(Adds details from Bloomberg report) April 3 (Reuters) - Apple Inc is eliminating a small number of roles within its corporate retail teams, Bloomberg News reported on Monday, citing people familiar with the matter. The layoffs would impact what Apple calls its development and preservation teams, the report said, adding that the number of positions being eliminated could not be ascertained and was likely very small.


The iPhone maker did not immediately respond to a Reuters request for comment on the report.


Worries of an economic downturn due to rising interest rates have sparked a series of mass job cuts across corporate America in recent months. 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.


(Reporting by Arunima Kumar in Bengaluru; Editing by Devika Syamnath)

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