Apple to lay off people in some corporate retail teams: Report
The job cuts are expected to impact Apple's development and preservation teams.
is reportedly laying off a small number of people in some of its corporate retail teams.
The job cuts are expected to impact the development and preservation teams, according to Bloomberg. The laid-off employees are responsible for the construction and maintenance of Apple retail stores and other facilities around the world.
The exact number of affected employees is unclear. The company expects the layoffs to improve its operations.
YourStory could not independently verify this report.
Apple has asked its employees to reapply for jobs within the company or else they would be let go, according to other publications.
To extend support to its employees, Apple is offering up to four months of severance pay to those who cannot find new posts with the company; employees have been given until the end of the week to apply for alternative roles.
This is Apple's first-known internal job cut since it embarked on a belt-tightening effort last year.
The development comes amid concerns of a possible economic plunge due to rising interest rates, which have already led to massive layoffs across sectors.
Apple has been paring down costs in many other ways, including leaving some positions unfilled, delaying bonuses, slashing contracts, reducing travel budgets, slowing down hiring, and pushing back projects.
Edited by Affirunisa Kankudti