In a year of unprecedented disruption and uncertainty, one industry giant has continued to ride atop the storm in a very comfortable and protective way. Apple, the innovative technology company, has managed to stay above the job-cutting flood in 2020, weathering the economic conditions brought by the pandemic and the fallout from the recession.
While other tech companies like Microsoft and Amazon have laid off thousands of employees, Apple is still sustaining its workforce by investing in future technologies and setting its sights on areas for future growth. This strategy has allowed Apple to remain competitive in a world where traditional economic models are shifting rapidly, and the importance of digital transformation has never been clearer.
Apple’s focus on long-term investments has contributed to its success in weathering the storm, such as doubling down on research and development to create new products and services. In addition, the company has continued to invest heavily in its retail stores while creating potential avenues of growth by taking steps to reach higher income customers over the past year. Instead of downsizing or streamlining operations, Apple has chosen to take a leap forward and expand into new areas.
Even with the disruption of the Covid-19 pandemic and the resulting economic downturn, Apple’s sales have remained strong. The company reported record quarterly sales in both the March and June 2020 quarters, with record-breaking earnings. This has enabled Apple to keep its doors open and pre-pandemic jobs in place.
The company’s ability to remain committed to its employees during a time of such disruption has not gone unnoticed. Apple employees have been vocal in their appreciation of the company’s decision to avoid layoffs while the world has grappled with its new normal. It’s no wonder that Apple has stayed on top of its game through the pandemic and recession.
Overall, Apple’s strategy for remaining competitive and setting itself up for future growth as the world emerges from the pandemic and recession could very well serve as an example for other companies that are looking for ways to stay afloat. In a world of turbulence and uncertainty, Apple’s commitment to its employees and its long-term strategy are the reasons it has managed to steer clear from layoffs.
