Apple plans some hiring reductions after selling less iPhones: Report

Loup Ventures managing partner Gene Munster and Wireless Fund portfolio manager Paul Meeks on how Apple may release three new iPhones this year and whether investors will dive back into the company.

Apple is cutting back on hiring for some divisions after lower-than-expected iPhone sales and missing its revenue forecast for the holiday quarter.

That is according to Bloomberg, citing sources familiar with the matter.

Chief Executive Officer Tim Cook reportedly told employees earlier this month in a meeting the day after he sent a letter to investors about the company's recent struggles, especially in China where sales of slowed.

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Cook has already gone on record saying that things have been complicated by the recent trade tension between the U.S. and China.

Apple did not immediately respond to a Reuters request for comment.