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APPLE IS REPORTEDLY SLOWING DOWN HIRING AND SPENDING AMID BROADER TECH LAYOFFS

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Apple has more than 1 million employees worldwide and generates more than $200 billion in revenue annually. Its product lines include computers, smartphones (including both Android and iOS devices), tablets and wearables; software applications such as iTunes music store and Safari web browser; operating systems (iOS); cloud services ( iCloud storage); hardware such as iPhones and iPads; Beats headphones; Air Pods wireless earbuds; iMac computers; Apple Watch smartwatches; Magic Trackpad trackpads; MacBook laptops and other accessories such as mobile phone docks.

As we all know that Apple is one of the biggest companies in the world. Apple Inc. is a U.S.-based multinational technology company with headquarters in Cupertino, California. The company's hardware products include the iPhone smartphone, iPad tablet computer, Mac line of Macintosh personal computers and related products, iPod media player, Apple Watch smartwatch and many more.

The iPhone was first introduced by the company in 2007 as Apple's first foray into the mobile phone market. It has since become the world's most popular smartphone with over 1 billion units sold worldwide as of June 2018.

All their electronic items run iOS, which is based on Open Mobile Alliance's Moblin platform. The first iPad was released on April 3, 2010,followed by successors the iPad 2 (March 2011), iPad (March 2012), iPad Mini (October 2011), third-generation iPad (April 2013), fourth-generation iPad mini 2 (July 2014) and iPad Air 2 (September 2013).

Apple Slowing Down Employees

The world's largest technology company has been cutting back on hiring in recent months, according to a report from Bloomberg, as it looks to save up for a costly tax bill. According to the report, Apple has cut its headcount by 15% since last year, with most of those cuts coming from retail employees. The company also cut spending on marketing, research and development and capital expenditures.

Apple is expected to release its third-quarter earnings on Oct. 30, but Bloomberg reports that the company already has laid off employees in a broad-based restructuring of its operations. The news comes as Apple's stock price has fallen nearly 18 percent over the past three months, far more than the 5 percent decline for the broader market.

The report cited people familiar with Apple's plans who said that the company was "accelerating" its spending on new facilities and hiring employees for new products, particularly related to artificial intelligence and machine learning. Apple also recently acquired Emotient Inc., which develops technology for analysing facial expressions, in an effort to better understand emotions from photographs and video recordings.

Why Apple is Cutting Spending?

Apple has been cutting costs and focusing on profitability as it prepares for a potential acquisition. The company's chief financial officer, Luca Maestri, said this week that the second quarter results "included a $1.9 billion increase in cash flow from operations" thanks to its efforts.

The company's guidance for fiscal year 2017 also showed that it is continuing to reduce its spending, which was down slightly from 2016. In the first half of this year, Apple increased its cash holdings by $11 billion from 2016 levels and reduced its debt by $14 billion. In 2017, it expects to reduce debt by about $10 billion.

Apple's growth strategy has been hit by new competition from Amazon and Google, which are expanding into the fast-growing business of selling and renting digital content through their cloud platforms. The biggest threat beyond that is from Facebook, which has spent more than $20 billion on original video programming and has plans to spend $10 billion more through 2020.

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