Qualcomm Cutting Jobs to Live Up to Promise of Slashing Costs

Oscar Cross
Апреля 20, 2018

The company went on to specify that it plans to offer severance payments to those affected.

"We first evaluated non-headcount expense reductions, but we concluded that a workforce reduction is needed to support long-term growth and success, which will ultimately benefit all our stakeholders", Qualcomm said in the statement.

Qualcomm told investors in January that it would enact a $1 billion cost reduction program.

The precise number of layoffs anticipated for each of Qualcomm's offices wasn't specified in today's report, however they certainly wouldn't be the first of the chip-maker's large-scale workforce reductions. Qualcomm has other major locations in the state, including San Jose.

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According to reports, in California, a layoff of over 50 workers would require Qualcomm to file a WARN notice with the state, letting workers know that cuts are coming well ahead of taking any action.

The company - which employs 33,800 people worldwide, including about 13,000 in San Diego - has said it is looking to cut about $1 billion from its operating expenses to help boost earnings. The losses were mainly due to a $6 billion charge caused by USA tax reform, and a $1.2 billion charge imposed by the European Commission.

What's Next For Qualcomm Now That Broadcom's Hostile Takeover Is No Longer An Option? But that bid was blocked by the Trump administration on national security grounds, and now the company must make good on its promise.

As Qualcomm continues in its NXP acquisition attempt, the company is also researching and developing hardware for next-generation technologies.

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