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In line with its Silicon Valley counterparts, Apple has begun to delay bonus payments to control costs.

Over the past six months, in Silicon Valley "layoffs" in the unique technology giant Apple Co., Ltd. recently "can not hold."。

Over the past six months, in Silicon Valley "layoffs" in the unique technology giant Apple Co., Ltd. recently "can not hold."。

Apple, like its Silicon Valley counterparts, is currently trying to ramp up cost-cutting efforts in an attempt to streamline operations in the current sluggish macro environment.。Apple is delaying bonuses in some company departments and reducing the frequency of bonuses for some of its employees, according to people familiar with the matter, while it is also beginning to restrict the hiring of new employees。

In previous years, Apple usually paid bonuses and promotion opportunities one or two times a year, depending on the department, and departments that paid bonuses twice a year used to pay them in April and October each year.。But after this performance reform, all departments will only pay bonuses according to the annual plan, and there will be no bonuses or promotion opportunities next month, all of which will be postponed until October.。

The move is said to apply only to non-managers and middle managers, but has not had any impact on senior employees at the director level and above, who are usually paid quarterly bonuses.。

In fact, most of Apple's departments have been implementing once-a-year bonuses and promotion opportunities since before this bonus model change。Only departments like operations and corporate retail will continue to maintain twice-yearly bonuses and promotion opportunities, but after this system change, all departments will be unified。

Last July, when rising inflation and recession fears forced the world's most valuable company to tighten its belt。But unlike other large technology companies in Silicon Valley, Apple did not carry out large-scale staff cuts, but by suspending recruitment activities in multiple departments and reducing budgets to survive the "winter."。

Although Apple has not yet lowered the amount of bonuses, employees can still get the full amount of bonuses, but this change may still cause a considerable impact on some employees。Especially some of these employees who are already used to paying bonuses in April because their budget plans may have to be reshuffled。In addition, this bonus delay may also help retain employees who plan to leave when they receive their bonuses in April。

In addition, Apple also controlled the subsequent travel budget, and now needs the approval of the senior vice president (the highest executive level, second only to the company's CEO and chief operating officer) to get more budget.。And Apple also fired most of the contract workers.。

As part of the savings, Cook himself is reducing his own pay。In January this year, Apple announced that Cook's salary in 2023 will drop by more than 40% to about $49 million.。Shareholders have approved executive compensation at Apple's annual meeting last Friday.。

Apple is currently facing a sales slowdown, with revenue down 5% in the holiday quarter, a bigger drop than Wall Street expected, due to blocked iPhone production and sluggish demand for Macs and wearables。Also, the market expects a similar decline in Apple's sales this period。

Tim Cook, Apple's chief executive, told shareholders: "We are very cautious and thoughtful about spending and we continue to be very cautious about hiring.。"。In response to the overall decline in holiday quarter revenue and slower growth than in the past, he added that Apple continues to "invest in innovation."。

In addition to cutting costs, Apple has recently begun to pay close attention to employee attendance, and the company's human resources department has recently been paying close attention to how often employees come to the office, with a new policy requiring employees to work in Apple's office buildings three times a week, a policy that was controversial when it was implemented last year。Some employees are now concerned that increased scrutiny of office attendance is a precursor to companies firing employees who do not meet the three-day work week threshold。

Despite all the cost cuts and institutional changes, Apple employees are generally in a much better position than other large Silicon Valley technology companies, such as Meta and Alphabet's Google, which have suffered massive layoffs.。

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