Apple reassure staff after stock plummet

From...

by Macworld staff

(IDG) -- Apple employees have received reassurances that the company remains on track, following Apple's profit warning and subsequent nosedive on the financial markets last week.

Company insiders told Macworld that reassurances were given to employees across the company, allaying fears that it might be forced to engage in savage cost-cutting in order to maintain its bottom line.

Jobs freeze

Steve Jobs said that while there might be a hiring freeze, there would be no lay-offs at Apple, according ZDNN reports. Certain key positions will be filled, the report continues -- particularly in hardware engineering, it claims.

MORE COMPUTING INTELLIGENCE

IDG.net home page

Reviews & in-depth info at IDG.net

Search IDG.net in 12 languages

Apple blamed its profits shortfall on lower than expected education and G4 Cube sales "in all geographies".

It's thought that the company perspective on events is that for Apple to lose half its market capitalization over a profit warning like this makes little sense -- the company will still return a profitable quarter, has little debt and strong cash reserves.

Bad times for Apple's partners
October 4, 2000
Apple plans to launch retail outlets
October 2, 2000
Persistence pays off as customer gets new G4 cube
September 26, 2000
Non-IBM laptops take backseat at Olympics
September 25, 2000
Looking at iBook
September 15, 2000

Apple, Wall Street and overreaction
(MacWeek)
Apple may open own retail stores
(PC World)
Why Apple tanked
(IDG.net)
Apple customers complain of cracks in Cube
(InfoWorld)
The evolution of the Mac interface
(MacWorld)
Apple goes to court to protect trade secrets
(IDG.net)
Apple announces instant financing
(MacWeek)
Inside Mac OS X's Unix layer
(MacWorld)

Apple

Note: Pages will open in a new browser window

External sites are not endorsed by CNN Interactive.