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Apple's retail layoffs misstated?
Stephen Withers
Monday, 27 April 2009 06:20
Page 1 of 3
Talk of 1600 layoffs across the Apple Stores has a shaky foundation. Much like the claims that Apple has grounded CEO Steve Jobs' private plane.Let's start with the facts.
Apple's 10Q filing for its fiscal second quarter notes that "As of March 28, 2009, the Retail segment had approximately 14,000 full-time equivalent employees".
The prior quarter filing reported "approximately 15,600 full-time equivalent employees".
Does that mean Apple has sacked 1600 people? No.
The key phrase is "full-time equivalent" (FTE).
How can this statistic be interpreted? Please read on.
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