Apple self-driving car project sheds over 200 employees

CNBC received confirmation that Apple's autonomous driving project has just dismissed over 200 employees. Called Project Titan, the self-driving car initiative is currently undergoing a kind of restructuring under relatively new leadership. Some of the workers affected by the plan will move to different parts of Apple.

An Apple spokesperson acknowledged the lay-offs and said the company still sees opportunity in the space:

"We have an incredibly talented team working on autonomous systems and associated technologies at Apple. As the team focuses their work on several key areas for 2019, some groups are being moved to projects in other parts of the company, where they will support machine learning and other initiatives, across all of Apple," the spokesperson said.

"We continue to believe there is a huge opportunity with autonomous systems, that Apple has unique capabilities to contribute, and that this is the most ambitious machine learning project ever," they added.

The news agency also points out that of late, Apple CEO Tim Cook points to health as the next major growth market for the firm. With the iPhone reaching the limits of growth, Apple needs to look towards different markets to continue its stellar growth:

"I believe, if you zoom out into the future, and you look back, and you ask the question, "What was Apple's greatest contribution to mankind?" it will be about health," Cook told CNBC's Jim Cramer.