Apple generated around $2.4 million in revenue per employee in its latest fiscal year

According to an article at Barron’s, Apple generated about US$2.4 million per employee in fiscal 2022.

From Adam Clark’s “Apple Hasn’t Made Layoffs. Why It’s Still More Efficient Than Meta” article: Apple has consistently been the most efficient of the major U.S. technology companies when measured on revenue generated per employee.

Apple generated around $2.4 million in revenue per employee in its latest fiscal year and has averaged around $2.1 million on the same metric over the past five years, according to FactSet .

That far outstrips Facebook-owner Meta, which generated $1.35 million in revenue per employee in 2022—below its five-year average of $1.5 million. Apple also consistently beats Amazon, Microsoft, and Google-parent Alphabet on the same metric, all of which have announced major layoffs in recent months.

Yesterday Bloomberg reported that Apple is delaying bonuses for some corporate divisions and expanding a cost-cutting effort in an effort to streamline operations during tough economic times.

Quoting unnamed “people with knowledge of the situation,” the article says the shift will reduce the frequency of bonuses for a portion of Apple’s corporate workforce, said the people, who asked not to be identified because the plan hasn’t been announced publicly. Separately, the company is limiting hiring for more jobs and leaving additional positions open when employees depart, adds Bloomberg.

In his article, Clark notes that as companies such as Meta Platforms lay out plans to shed tens of thousands of employees, Apple hasn’t made any major layoffs and its revenue generated per employee is why.