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Apple is the only tech giant that still hasn’t announced layoffs — these charts may explain why



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An employee cleans a window at Apple Inc.’s new Canton Road store in the Tsim Sha Tsui district of Hong Kong, China.Xaume Olleros | Bloomberg | Getty ImagesMany of the biggest technology companies are laying off staff as fears of a recession rises. But the job cuts come after a few years of rapid expansion.On Wednesday, Microsoft announced it will eliminate 10,000 employees, reducing its workforce by 5%, and Amazon began conducting layoffs that will eventually slash 18,000 jobs.related investing news 4 hours ago 7 hours agoMicrosoft and Amazon are joining tech industry peers including Alphabet and Meta which have also cut staff in recent months.While each company is slightly different, most companies going through layoffs are blaming macroeconomic conditions and the possibility of a future recession as the reason for their belt-tightening.But an underappreciated factor is how rapidly tech companies ramped up hiring over the last two years.In 2020, widespread Covid lockdowns made internet applications more important to people, supercharging business for many tech companies. As sales and profit continued to rise in 2021, they continued to add huge numbers of employees in the hopes that the success they were seeing would become a new baseline. It didn’t work out that way. Growth is slowing, and companies are now having to readjust.Apple is a maj …

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