Apple is delaying bonuses for some corporate divisions and expanding a cost-cutting effort in an effort to streamline operations during tough economic times, reports Bloomberg.

Quoting unnamed “people with knowledge of the situation,” the article says the shift will reduce the frequency of bonuses for a portion of Apple’s corporate workforce, said the people, who asked not to be identified because the plan hasn’t been announced publicly. Separately, the company is limiting hiring for more jobs and leaving additional positions open when employees depart, adds Bloomberg.

Last month The New York Post reported that Apple – which has avoided the mass layoffs that have claimed tens of thousands of workers at Amazon, Google, Meta and Microsoft – has quietly begun axing contractors. 

The article said that the tech giant started to cut ties with hundreds of contractors — workers technically employed by outside agencies who work alongside Apple employees on projects. Instead of waiting for contracts that are typically renewed every 12 to 15 months to expire, Apple is dismissing contractors outright, according to The Post.

This wasn’t the company’s first such move. In August 2022, Bloomberg said the company had laid off many of its contract-based recruiters. The article said “the decision stems from a move to be more careful during uncertain times, though it isn’t a companywide policy.” Purportedly, the changes won’t affect all teams. 

Article provided with permission from AppleWorld.Today