Qualcomm Begins Cutting Jobs to Meet Pledge to Slash Costs

Qualcomm-is-reportedly-cutting-jobs

As of Sept 24th Qualcomm has about 33,800 full-time, part-time and temporary employees. Besides, the company is also offering packages to the employees involved in the layoffs.

Qualcomm slashed 1,231 jobs in San Diego and another 269 workers in Santa Clara/San Jose as part of its $1 billion cost cutting plan.

A Qualcomm spokesperson confirmed to EE Times that the workforce reductions have begun.

However, the company would not disclose how many employees will be affected.

The chipmaker had said in January that it is aiming to save almost $1 billion in costs when it risked a hostile takeover from Broadcom.

The move has come, amid Qualcomm's ongoing battle with Apple which started a year ago after a complaint from the FTC stating that Qualcomm was pushing Apple to use its baseband chips at higher royalties. If Qualcomm is reportedly cutting jobs of 1,000 workers, it would affect about 3% of the global workforce of the company.

According to the sources who spoke with the publication, the cuts are part of a "broader" effort that could see Qualcomm eliminate even more positions outside the state.

San Diego-based Qualcomm announced Wednesday it's preparing to conduct "reduction of our full-time and temporary workforce". Broadcom's attempt to takeover was shot down by President Trump after he intervened in the potential merger, blocking it in the interest of national security.

Back in January, Qualcomm promised shareholders that the company would make $1 billion in operational savings annually in order to improve earnings.

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