Bloomberg reports that on Thursday Apple CEO Tim Cook held a company-wide virtual meeting to discuss the ongoing COVID-19 pandemic and how he plans to return to normalcy. Bloomberg reports,
During the meeting, Cook called the pandemic an “uncertain and stressful moment,” but expressed confidence that the company will emerge stronger from the crisis, as it did after the 2008 recession and following a near-bankruptcy in the late 1990s.
Tim Cook says that Apple has a “strong balance sheet” and will continue investing in significant ways into research and development of feature products, per an Apple employee who attended the meeting.
“If we stay focused on doing what we do best, if we keep investing, if we manage the business wisely and make decisions collaboratively, if we take care of our teams, if our teams take care of their work, I don’t see any reason to be anything but optimistic,” Cook, who has been Apple’s top executive for nearly a decade, told staff.
When Tim Cook was questioned over potential job cuts, he says that Apple’s strong “balance sheet” will help maintain its current workforce. Apple has proven such claims since it has continued to pay retail workers throughout the pandemic despite stores being closed.
Apple says they don’t know when employees will return to work, but that when they do there will be tougher health screenings put in place and COVID-19 testing. He also strongly notes that the global crisis will not affect its product launches, he said that Apple released the first in iPad in 2010 right after the Great Recession and says that Apple will use a similar plan to exit the COVID crisis.