After lower-than-expected iPhone sales and missing revenue forecast for the holiday quarter, Apple Inc is planning to cut back on hiring for some divisions, according to the report published in the Bloomberg.
Apple’s CEO Tim Cook made the disclosure to employees earlier this month in a meeting the day after he penned a letter to investors about the company’s recent struggles, particularly in China and said some divisions would reduce hiring.
Tim Cook warned investors in a letter that Apple’s first-quarter earnings were likely to be weaker than expected, as fewer consumers bought Apple’s new iPhones.
The decline in iPhones sale is believed to be because of Apple’s discounted battery upgrade program launched in December 2017 as a result of the throttling failure, many customers opted to replace their batteries instead of buying new phones.
According to the Bloomberg, Apple did not immediately respond for a comment.