Apple is reportedly working to move some of its work beyond Silicon Valley after it became clear that Apple Park is no longer the appeal it once was. Hiring and retaining employees is proving to be a problem for the company, and the high cost of living associated with Silicon Valley is reportedly the culprit.
Typing on your new Power On NewsletterBloomberg’s Mark Gurman says Apple is finding it difficult to recruit people, and then retain them, because people can’t balance the cost of living in Cupertino and the surrounding areas with the ability to save for college fees and other necessities. This despite the fact that Apple paid well, comparatively.
The company has been losing talent who, despite having high incomes by most standards, have said they can barely afford the extraordinary cost of living in the San Francisco Bay Area. Many engineers regretted that they were unable to balance living expenses with other activities such as college tuition for their children and long-term savings.
The bulletin goes on to say that some of Apple’s equipment has already expanded beyond Apple Park and even the United States in recent years, and that Apple is now looking to accelerate the movement. Custom Silicon Chief Johny Srouji, Chief of Services Eddy Cue and Chief of Staff Deirdre O’Brien are said to be at the forefront of expansion, citing cost savings, diversity benefits and more.
Apple is already building new offices in Austin, Texas, while numerous hires are taking place in various countries, including the UK, Canada and Germany. However, Apple will continue to require employees to work from their offices wherever they are, rather than opening up to full remote work as other companies have of late.
Apple is expected to announce the iPhone 13 next September, a device that will surely be the best iPhone the company has ever produced. It’s coming, folks!