iPhone Business Model

With record quarters and more money in the bank than... well, many banks, it's hard to see Apple getting hit by "hard economic times", but according to CNet, they either are, or are preparing to be:

Sources who wished to remain anonymous for fear of reprisal confirmed reports by Valleywag and 9to5Mac.com that roughly 50 salespeople were let go by the company for "business and economic reasons," according to one source. An entire sales group based in Austin, Texas, was let go as well as workers in Cupertino, Calif., where Apple is headquartered. Those affected were given severance packages and the opportunity to apply for other jobs inside Apple.

Hopefully all the workers find those other jobs inside Apple quickly.