Qualcomm is cutting 1,500 jobs across multiple divisions
Qualcomm is cutting 1,500 jobs across multiple divisions at its offices in California as part of its promise to slash annual expenses by $1B. It's also the beginning of a goal to lay off 4.4% of the company's workforce starting in June.
Though Qualcomm (NASDAQ: QCOM) first considered cost reductions without firings, it concluded that job cuts are needed to support long-term growth and success.
In spite of the fact that the organization initially considered cost diminishments without cutbacks, it reasoned that activity slices are expected to help long haul development and achievement, a Qualcomm representative said on Wednesday.
Qualcomm had in January said it would execute a progression of focused diminishments crosswise over organizations, as a major aspect of its endeavor to prevail upon speculators bolster against a threatening offer from match Broadcom Inc .
Qualcomm Layoffs Official
Qualcomm is an $80 billion chipmaker. The company has made its cost-cutting layoffs official. According WARN filings with the state of California, Qualcomm plans to layoff a total off 1,500 of its California-based employees. The layoffs will take place on or around June 19. The reductions will impact approximately 1,231 employees at Qualcomm headquarters in San Diego. Another 269 layoffs will take place across its northern California offices in San Jose and Santa Clara. It's unclear how layoffs will impact employees in other states or countries.