Apple to slow hiring, spending for some teams next year

The changes will not affect all teams, and Apple is still planning an aggressive product launch schedule in 2023 that includes a mixed-reality headset

Customers pick up online orders at the Apple Store at the Towson Town Center. | Photo Credit: AP

Apple Inc intends to slow hiring and spending growth next year in some units to cope with a potential economic downturn, Bloomberg News reported on Monday, citing people with knowledge of the matter.

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The changes will not affect all teams, and Apple is still planning an aggressive product launch schedule in 2023 that includes a mixed-reality headset, its first major new category since 2015, the report said.

Shares of the company, which did not immediately respond to a Reuters request for comment, reversed course to trade down nearly a percent at $148.95.

Apple is the latest company with plans to slow hiring, joining Meta Platforms, Tesla Inc and a number of U.S. banks as they prepare for a potential economic slowdown.