Ternus Targets Middle Management in Apple Shake-Up

Apple's new CEO John Ternus is making waves just weeks into his job by shaking up the iPhone maker's operations. The plans to overhaul the company aim to speed up product development, broaden its range of devices, and run a leaner organization with a greater focus on engineering.

Ternus, who previously served as Apple's hardware engineering chief, is looking to reduce layers between engineers and senior executives by eliminating some middle-management positions. This move is part of the cost-cutting efforts that are already underway at the company.

The new CEO also wants to find new sources of revenue and ways to make more money from existing products. Apple's traditional spring and fall product release schedules may be a thing of the past, as Ternus considers relying less on these cycles.