Following a post-holiday slump and failing to sell as many iPhones as forecast, Apple is cutting back on hiring in some areas of the company, a report says.

Following a post-holiday slump and failing to sell as many iPhones as forecast, Apple Inc. (AAPL - Get Report) is cutting back on hiring in some areas of the company, according to a report by Bloomberg.

Apple CEO Tim Cook "held a meeting with employees, there was a Q and A session, and he disclosed -- after asking if there would be a hiring freeze -- saying that there would be a reduction in new hires," reporter Mark Gurman told Bloomberg TV.

Gurman, who covered the news, said that it wasn't clear which divisions would cut down on hiring, but did say that Apple hires "thousand of people" when asked how many people Apple picks up on a quarterly or annual basis. He speculated that the company's artificial intelligence division was unlikely to see slowdowns in hiring, but possibly software engineering or special projects or both would.

The Bloomberg report was based on unnamed sources familiar with the matter. A spokesperson from Apple did not immediately respond to a call for comment from TheStreet.

Apple was trading down about 0.88% on Thursday.

Earlier this month, Cook released a letter to investors detailing some of the company's iPhone and China sales woes.

"While we anticipated some challenges in key emerging markets, we did not foresee the magnitude of the economic deceleration, particularly in Greater China," said Cook in the letter. "In fact, most of our revenue shortfall to our guidance, and over 100 percent of our year-over-year worldwide revenue decline, occurred in Greater China across iPhone, Mac and iPad."
 "Lower than anticipated iPhone revenue, primarily in Greater China, accounts for all of our revenue shortfall to our guidance and for much more than our entire year-over-year revenue decline," Cook continued. 
Revenue for the quarter ended Dec. 29 would reach $84 billion, falling short of analysts' estimates and Apple's previous guidance of $89 billion to $93 billion.
China's slowdown is worrying some observers.
"China's economic slowdown looks set to deepen in the first half of the year, although policy stimulus should put a floor beneath growth before the year is out," wrote Capital Economics in a report on Wednesday, predicting that the long-term "sustainable rate" of economic growth in China is likely to slow from about 5% to 2% over a decade.
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