New Apple CEO John Ternus, who took over from Tim Cook on September 1, is reportedly planning an overhaul aimed at faster launches and a leaner company, according to Bloomberg's Mark Gurman. Ternus, previously Apple's hardware engineering chief, has apparently discussed moving away from the usual spring and fall launch windows and wants the company to be more experimental. Product teams are said to be pushing out more devices on shorter timelines, and one person familiar with the situation described the mood inside as hectic.

Moreover, the cuts have already started. Apple has reportedly dismissed a number of engineering program managers in hardware engineering over the past two weeks, including roughly half a dozen directors. Some affected staff were given a limited window to find other roles inside Apple, and those who don't will apparently be let go later this year.

Apple also reportedly considered cutting about 5,000 AppleCare jobs this summer while looking at AI support agents, but dropped that plan. It's unclear how this affects the October launches rumored for the OLED iPad mini, HomePod mini 2, and Apple TV 4K. Employees reportedly expect more job cuts in the coming months, and they caution that changing how Apple builds products could take years.