Steve Jobs spoke to Fortune in 2008 about the then-economic downturn.
“What I told our company was that we were just going to invest our way through the downturn,” he said. “That we weren’t going to lay off people, that we’d taken a tremendous amount of effort to get them into Apple in the first place—the last thing we were going to do is lay them off.”
“What I told our company was that we were just going to invest our way through the downturn,” he said. “That we weren’t going to lay off people, that we’d taken a tremendous amount of effort to get them into Apple in the first place—the last thing we were going to do is lay them off.”
Category
🤖
TechTranscript
00:00Apple co-founder Steve Jobs guided the company through the 2008 financial crisis without slashing jobs or budgets.
00:07Here's how.
00:08Jobs spoke to Fortune in 2008 and said the way to move forward was through investing more in research and development.
00:14He said it wasn't Apple's first time going through an economic downturn,
00:17and the previous investments in R&D during the dot-com bubble burst allowed them to get ahead of competitors when things got better.
00:24And cutting costs through layoffs wasn't a path for success in Jobs' mind.
00:28He said that they weren't going to lay people off after Apple had taken a tremendous amount of effort to get them in the company in the first place.
00:36Two years later, Apple released the iPad and closed out the week with half a million sales.
00:41In May of the same year, Apple passed Microsoft's market cap, cementing a massive milestone for the tech company.