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Qualcomm Begins Cutting Jobs to Meet Pledge to Slash Costs



Qualcomm Inc. has begun cutting about 1,500 jobs in California

The layoffs in California represent the bulk of the cuts, but some positions will be eliminated in other locations, one person said. Globally, San Diego-based Qualcomm employs about 34,000 people.

Qualcomm confirmed it is reducing its full-time and temporary workforce to an emailed statement, without specifying the locations or numbers.

"We first evaluated the costs, but we concluded that we needed to support long-term growth and success, which will ultimately benefit all our stakeholders," Qualcomm said in the statement. The company said it wants to offer severance payments to those affected.

The smartphone-chip maker pledged in January that it would slash $ 1

billion in expenses to improve its earnings, part of its efforts to fight off a hostile takeover bid […] Broadcom Inc. Shareholders were set to ignore that promise and support the acquisition offer until the Trump administration disqualified the deal on the grounds that it would pose a national-security risk. Qualcomm's management team now needs to have its revenue and profit growth. Sales have been falling every year since 2015 and are projected to decline 3 percent in fiscal 2018.

This is not the first time Qualcomm has cut jobs. In 2015, after pressure from an activist investor, the chip giant announced The numbers included in the latest reduction will be clarified in the next few days when the chipmaker files so called WARN notices, or Worker Adjustment and Retraining Notification, with California, one of the people said. Companies are required to make a search when they are 50 or more employees within a 30-day period. Qualcomm has other major locations in the state, including San Jose.


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