Apple cuts 100 jobs in digital services- Bloomberg

Investing.comAug 28, 2024 5:10 AM

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Investing.com-- Apple Inc (NASDAQ:AAPL) cut about 100 jobs in its digital services group amid shifting priorities in the company, Bloomberg reported on Tuesday.

The cuts affected employees who worked across several different teams under Senior Vice President Eddy Cue, Bloomberg reported, citing people close to the matter. The biggest cuts were in teams working on Apple’s bookstore services.

The move marks a rare instance of job cuts by the Cupertino-based tech giant, which has otherwise largely retained its employees amid a growing wave of layoffs across its major tech peers.

The firm is set to unveil the latest iteration of its flagship iPhone in early-September, and will also start rolling out a slew of artificial intelligence features in its devices. The iPhone 16 will headline Apple’s AI push, amid growing hopes that AI will help reignite growth after over a year of declining device sales.

Reports earlier this year showed Apple had canceled its long-awaited car project to instead shift focus towards AI. The company had reportedly reassigned about 2,000 employees with some potential redundancies.

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