Chief Executive Officer Tim Cook made the disclosure to employees earlier this month in a meeting.
Cook said Apple's revenue for the quarter including the crucial holiday shopping season will fall well below Apple's earlier projections and those of analysts, whose estimates sway the stock market.
Apple Inc will cut back on hiring for some divisions after lower-than-expected iPhone sales and missing its revenue forecast for the holiday quarter, Bloomberg reported on Wednesday, citing sources familiar with the matter.
According to the report, Chief Executive Officer Tim Cook made the disclosure to employees earlier this month in a meeting the day after he penned a letter to investors about the company’s recent struggles, particularly in China and said some divisions would reduce hiring.
Apple did not immediately respond to a Reuters request for comment.
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