Apple, $AAPL, to delay bonuses, expand hiring freeze

Apple, $AAPL, to delay bonuses, expand hiring freeze.

Apple is also changing the bonus and promotion schedule for employees in some corporate divisions from twice a year to once a year.

The company is also more closely monitoring its travel spending and office attendance, per Bloomberg.

CEO Tim Cook is taking a 40% pay cut this year and said in a shareholder meeting last week, "We're being very prudent and thoughtful on spending, and we continue to be very deliberate when it comes to hiring."

Recently Apple, AAPL, iPhone maker Foxconn said it plans $700 million plant in India, in shift away from China.

In January, Apple is making its presence known in India as the company recently posted job positions on flagship retail operations in India. This leads experts to believe that the company is preparing to open its first flagship locations in the country.

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