Technology

Apple Lays Off Exactly 619 Workers

hxyume / iStock via Getty Images

In a sign that the press will write about anything that involves Apple Inc. (NASDAQ: AAPL), the fact that it laid off 619 workers received unusual attention. In California, companies must file a Worker Adjustment and Retraining Notification when they have a “plant closing or mass layoff.” The rule also says that employees must receive 60 days notice.

There was speculation that the downsizing, tiny for a company Apple’s size, was tied to the company’s decision not to build a car. CNBC reported, “The filing comes weeks after Apple canceled a long-running project to build an electric, self-driving car in a team called the Special Projects Group.” Were the two events related? There is no evidence that they are.

The media continues to be hungry for negative news about Apple. Its failure to continue working on an electric vehicle garnered a huge amount of press coverage. So did news that Apple’s China sales fell by double-digit percentages in the early weeks of this year. (Here Is How Much Money Apple Makes Every Minute.)

Much of the press related to Apple has focused on its need for an obvious path to becoming a major force in artificial intelligence. A recent rumor had Apple joining Alphabet to help both tech giants not appear to be failures because they needed to match the AI success of Nvidia or Microsoft.

Apple’s tiny layoffs may only be based on creating efficiency in a modest part of its businesses. And middle management may have made the decision. In other words, in the scheme of things, little has happened, except to those who were let go.

Want to Retire Early? Start Here (Sponsor)

Want retirement to come a few years earlier than you’d planned? Or are you ready to retire now, but want an extra set of eyes on your finances?

Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.

Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.

Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.