Bloomberg Apple is set to cut about 10,600 jobs in China and India, its biggest market, according to people familiar with the matter.
The cuts, which could be announced as early as this week, are expected to include about 10% of the company’s workforce in China, where Apple employs about 12,000 people, the people said, requesting anonymity because they were not authorized to speak publicly.
Apple has been under pressure from shareholders and the U.S. government to slash its workforce as its revenue from China and other emerging markets has tumbled.
In the fourth quarter, the Cupertino, Calif.-based company’s revenues fell 7.9% year-over-year and it reported its first quarterly loss since 2006, citing an increase in debt and cash holdings.
Apple has been battling slowing demand in China for Apple Watches, iPhones and other products, and a sharp fall in Apple Watchels sales this year has hurt its profitability.
The company has been facing mounting pressure from regulators to ease its supply chain rules that prohibit Apple from manufacturing parts for other manufacturers in China.
Apple has said it is reviewing how it can meet supply constraints in China due to a spike in counterfeit goods.
While the U!
A.F.P.E.S., the company that makes the glass cleaner glass, has a presence in India and China, the company said it has decided to close its India operations and instead focus on China, according the people.