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Qualcomm decides to lay off 5% of its employees

Qualcomm decides to lay off 5% of employees

In the U.S. there has been a massive layoff of tech workers across several companies. Many big American firms like Twitter, Meta, Amazon and several others have since laid off thousands of staff. However, it appears that more tech workers in the U.S. will still lose their jobs. According to a recent report, US chip giant Qualcomm has officially confirmed that it will lay off 79 staff in its HQ in San Diego, USA. The company claims that the reason for the layoff is the downturn in the global mobile phone market.

The “San Diego Union-Tribune” reports that Qualcomm gave the California state government the notice on February 28. In the notice, the company stated that it will activate its plan in April. According to the company, this was done in order to “adjust business strategy and resource allocation” in reaction to market shifts. The notice states that while all jobs are affected by the most recent round of layoffs, the engineers, administrative, and law staff are the most critical ones.

The staff cuts were based on Qualcomm’s decision to fire 153 workers in December. With more than 12,000 local staff members, the business is still San Diego’s biggest tech employer.

In light of the slowing global economy and high mobile phone inventories, Qualcomm CEO Cristiano Amon stated at the company’s most recent earnings conference in February that the company plans to decrease running costs by 5%. Qualcomm had 51,000 full- and part-time staff working for it in 150 sites around the globe as of September 25. Qualcomm hired 6,000 new staff in its most recent fiscal year.


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