part-time

• Maybe to Apple, the recession hasn’t quite come yet. Their earnings on Wednesday, impeccable, and now they have cut 1,600 retail employees in a cost cutting effort. The retail arm of the company now employs 14,000 full-time equivalent workers, down from 15,600 according to a  recent filing with the SEC.
  

Expansion of the Retail segment has required and will continue to require a substantial investment in fixed assets and related infrastructure, operating lease commitments, personnel, and other operating expenses. Capital asset purchases associated with the Retail segment since its inception totaled $1.5 billion through the end of the second quarter of 2009. As of March 28, 2009, the Retail segment had approximately 14,000 full-time equivalent employees and had outstanding lease commitments associated with retail space of $1.3 billion. The Company would incur substantial costs if it were to close multiple retail stores and such costs could adversely affect the Company’s financial condition and operating results. -Apple SEC Filing

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