According to Bloomberg, Apple recently fired off around 100 employees in its recruiting business. It joins the ranks of other IT firms that have opted to freeze hiring. Getty Images/Justin Sullivan
According to a recent Bloomberg News article, Apple reportedly fired off approximately 100 contract workers in its recruiting business. It's the latest indication that the IT industry is slowing down on new employees. This year, Facebook's parent company, Meta, joined Amazon (a Marketplace underwriter), Alphabet, Microsoft, and numerous other companies in making similar statements.
Until this year, IT firms had been aggressively hiring. This is due in part to the fact that the epidemic increased demand for their products and services.
"The strong became stronger in tech during the epidemic," said Dan Ives, managing director at Wedbush Securities. "From an e-commerce standpoint, everyone is sitting at home streaming, using software, and https://techtimetas.blogspot.com/ accessing the cloud.
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But, depending on the IT https://techtimetas.blogspot.com/ business, that has begun to shift, according to J.P. Gownder of Forrester Research.
"There are organizations that have actual performance issues, and there are companies who are simply being cautious and slowing things down.
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Netflix, for example, is dealing with new competition, according to Gownder, and has laid off around 450 staff. Other businesses are limiting recruiting because they are concerned about the state of the economy.
"In an uncertain economic scenario, even large corporations will say, 'Hey, let's wind down this specific area of our business because it's not successful, and we expect it to be much less successful if the economy slows," Gownder explained.
Other firms may likewise anticipate IT corporations to reduce their spending. In other words, advertising revenue, according to Carolina Milanesi, a Creative Strategies tech analyst.
"Advertising is generally one of the areas that corporations pull back on," she said of any social media network or content https://techtimetas.blogspot.com/ platform.
Following the IT employment boom, Milanese has stated in recent years that we should anticipate slowing that pace.
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