Apple – The mood in Silicon Valley has been nothing but gloom-and-doom, and this week’s marathon session of financial reports didn’t help matters. Facebook’s parent company Meta and Google’s parent company Alphabet both held their earnings calls to raise the chance for more cost-cutting to occur even beyond the past number of mass firings. Amazon earnings fell short of expectations.
Silicon Valley’s
Silicon Valley’s mood has been dismal all week, apple layoffs and this gloomy series of financial reports didn’t add to the malaise. Facebook’s parent company Meta and Google’s parent company Alphabet both indicated their willingness to turn cost cuts all the way up again, even past their recent major layoffs, even as Amazon’s earnings failed to meet expectations.
Layoffs
- Apple suffered throughout the holiday season, reporting its first annual sales decline since 2019.
- Almost all tech companies are currently in trouble and have implemented cost-cutting measures and layoffs.
- Tim Cook, the CEO of Apple, said the company still intends to spend “in innovation and in people.”
However, this specific hurricane has had one port. Apple has survived the perfect storm of rising inflation, supply chain problems brought on by the epidemic, and the crisis in Ukraine without having to significantly reduce its staff.
Tim Cook, Apple’s CEO, addressed the challenges the company is experiencing during the company’s quarterly results call on Thursday afternoon. However, any mention of cost-cutting, layoffs, or strategy changes was conspicuously absent. Contrary to popular belief, Cook stated during the conference call with Wall Street analysts that “whatever obstacles we face, our strategy is always the same,” citing the company’s investments “in innovation, in people.”