Dive Summary:
- Apple has cut jobs across the board for its retail store locations, slashing 5% of total employees in March, according to a report filed with the Security Exchange Commission this week.
- From January to March the iconic brand know for its retail store success and innovation reduced its brick-and-mortar store head count by nearly 2,100 workers, as the company’s retail operating margin has dropped to 20.8%.
- In March, the retailer opened one new retail store, bringing the total number of stores to 402. The move may indicate a lack of product development from the brand.
From the article:
On Tuesday, Apple reported better-than-expected results for its fiscal Q1 but signaled weak sales for the June quarter. It also revealed that it doesn't plan to come out with any new products until this fall. That would mean almost a year between new product launches. Apple's last new gadget, the iPad Mini, was released on Nov. 2.
