It's almost a rite of passage that as soon as a new CEO settles into the top job, they fire people. They primarily do it to send a message to the organization to step it up, in part so they look good come earnings time. The other reason is to align the business with the new CEO's ultimate vision for the business, which may differ from that of the former CEO. In the case of new Apple (AAPL) CEO John Ternus, he may be just trimming the ranks because it has to be done, given the new realities facing the tech giant. Ternus is reportedly planning layoffs ranging from small-scale numbers within large teams, while also canceling projects, according to a Bloomberg report today.
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