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Apple retail cuts 1,600 full-time positions

Tom Krazit CNET News

Published: 24 Apr 2009 09:26 BST

Apple's retail group shed about 1,600 full-time equivalent workers during its second fiscal quarter.

Apple's second fiscal quarter saw profit rise, despite the state of the economy, but executives noted that the retail division took a hit during the quarter, with average revenue per store declining to $5.9m from $7.1m a year ago. With overall revenue from that segment increasing just one percent to $1.74bn and with 45 new stores having been opened since last year, something had to give.

The retail arm of the company now employs 14,000 full-time equivalent workers, down from 15,600 at the end of Apple's first fiscal quarter, according to a filing with the SEC. Reports surfaced late last year that Apple was looking into ways to reduce the number of hours worked by part-time employees as a hedge against a coming recession.

Apple opened just one store during the quarter. In January it said that it plans to ease back on the number of stores it opens in 2009.

Credit: Apple retail sheds 1,600 full-time positions from CNET News