Apple Lays Off 100 Employees In Services Division, Including Key Teams Under Eddy Cue Responsible For Books App And Store: Report
Portfolio Pulse from Ananya Gairola
Apple Inc. (NASDAQ:AAPL) has laid off approximately 100 employees from its services division, affecting teams responsible for the Apple Books app, Apple Bookstore, and Apple News. Despite these layoffs, Apple continues to perform well financially, with a 5% year-over-year revenue increase in its third-quarter earnings.
August 28, 2024 | 4:06 am
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Apple has laid off 100 employees in its services division, impacting teams like Apple Books and News. Despite these layoffs, Apple reported a 5% increase in revenue in its latest earnings report.
The layoffs in Apple's services division could indicate internal restructuring or cost-cutting measures, but the company's strong financial performance with a 5% revenue increase suggests that the layoffs may not have a significant negative impact on the stock price in the short term.
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