WSJ: Qualcomm Wants To Buy Intel... Which Also Means More Layoffs

The past 18 months, Qualcomm laid off about 1,500 workers

Read more about Qualcomm´s proposed purchase of Intel at:

https://www.msn.com/en-gb/money/other/qualcomm-approached-intel-about-a-takeover-in-recent-days-wsj-reports/ar-AA1qVh7R

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After 1,250 job cuts, another round of layoffs by Qualcomm – Employees asked to leave office by THIS date

Qualcomm Layoffs 2024: Known for producing smartphone chips, the company, however, has not specified which departments will be affected by the latest round of layoffs.

The San Diego Union-Tribune first reported on the layoffs. Qualcomm has declined to provide specifics on which teams would be impacted.

Updated Sep 20, 2024 22:59 IST

Qualcomm Layoffs 2024: Qualcomm has announced its plans to make 226 job cuts at its San Diego facilities. (Pic- Canva)

ARTICLE HIGHLIGHTS

• Qualcomm has announced its plans to make 226 job cuts at its San Diego facilities.

• The reduction in the head count in the company will impact workers across 16 locations in San Diego.

• Known for producing smartphone chips, the company, however, has not specified which departments will be affected by the latest round of layoffs.

Qualcomm Layoffs San Diego, Qualcomm Layoffs 2024: Less than a year after Qualcomm cut over 1,250 jobs in 2023, the San Diego-headquartered chipmaker has announced another massive round of layoffs this year.

Qualcomm has announced its plans to make 226 job cuts at its San Diego facilities, reported Times of India quoting a California WARN notice published this week.

The plans for the layoffs will come into effect on November 12 while the reduction in the head count in the company will impact workers across 16 locations in San Diego, including the company's headquarters.

The San Diego Union-Tribune first reported on the layoffs, as per TOI.

Known for producing smartphone chips, the company, however, has not specified which departments will be affected by the latest round of layoffs.

On the massive layoffs, Qualcomm spokesperson Kristin Stiles stated, “As part of a normal course of business, we prioritise and align our investments, resources, and talent to ensure we are optimally positioned to take advantage of the unprecedented diversification opportunities in front of us," to TechCrunch.

The job cuts come even as Qualcomm reported strong financial performance in 2023, with annual revenue of $35.8 billion. CEO Cristiano Amon received $23.5 million in total executive compensation during the same period.

The reduction in the workforce of the company comes amid ongoing challenges in the tech industry, including market volatility and increased competition. Qualcomm has been working towards diversifying its product portfolio beyond smartphone chips and exploring opportunities in automotive and Internet of Things (IoT) technologies.

Qualcomm has declined to provide specifics on which teams would be impacted. Reports suggest that the layoffs would affect multiple facilities with various specialisations, including cybersecurity operations at the company's headquarters.

https://www.etnownews.com/companies/after-1250-job-cuts-another-round-of-layoffs-by-qualcomm-employees-asked-to-leave-office-by-this-date-article-113532755