Apple pauses hiring for many roles besides R&D in escalation of cost cuts

Apple has paused hiring for many jobs outside of research and development, an escalation of an existing plan to reduce budgets heading into next year, according to people with knowledge of the matter. The company took the step last month, ahead of a quarterly earnings report where it said that growth would slow in the holiday period. 

The pause generally doesn’t apply to teams working on future devices and long-term initiatives, but it affects some corporate functions and standard hardware and software engineering roles. Apple joins other tech giants in tapping the brakes on hiring, a response to sluggish consumer spending and higher interest rates.

Credit Suisse to extend global job cuts from next week

Credit Suisse is planning a fresh round of job cuts at the global wealth management business starting next week, adding to dismissals that already started at the investment bank. The Swiss lender is preparing to notify affected personnel, mostly support staff and investment advisors at this stage, as soon as Monday. 

In Asia Pacific, some wealth teams could see cuts of about 10 per cent of headcount, two people said. The Swiss firm last week announced a sweeping overhaul, seeking to shave $2.5 billion off its cost base. As part of the plans, the bank said it started 2,700 job cuts in the fourth quarter and is aiming to reduce about 9,000 positions by 2025.