Apple shifts into reverse on car project: report

Apple CEO Tim Cook unveils the new iPhone 7 at the company's event in San Francisco Sept. 7. (Photo: Marco della Cava, USA TODAY) SAN FRANCISCO - Apple may be thinking twice about getting into the car business. The Cupertino iPhone-maker, which has never publicly acknowledged it is working on an automobile, has reportedly laid off employees associated with its so-called Project Titan, according to anonymous sources quoted by The New York Times late Friday. The report cites three employees as saying Apple had fired "dozens of employees" off the automotive team, which just two months ago was taken over by Bob Mansfield, a top executive in the Steve Jobs era who had been coaxed to rejoin the company. Apple declined to comment on the report. The company's shares (AAPL) didn't move much after-hours on the news, but fell during trading 2% to 103.13.