Apple Isn't Cutting In The Face Of Recession--Should You?

Todd Walker posted a comment that is very important. He pointed to the fact that some Silicon Valley companies are not cutting back but adding to their talent pool to innovate their way of the downturn. In the last recession, Apple worked on iTunes and the iPod.

According to the, this is what Jobs said at that time: “Apple has maintained its workforce at about 11,000 throughout the year. In a meeting with analysts, Chief Executive Officer Steve Jobs said: “Almost every single competitor has been doing massive layoffs and retrenching and restructuring, but we’re doing quite the opposite. We’re not laying off boatloads of people. We’re taking those talented people and saying that if we’re going to get out of this, we’re going to get out of it by innovating our way out of it.”

Think about that.

Before it's here, it's on the Bloomberg Terminal.