Qualcomm reveals major layoffs, hundreds of workers let go

News
By
published

Qualcomm lays off senior workers

Qualcomm
Image credit: Shutterstock (Image credit: Shutterstock)

California-based chipmaker Qualcomm has announced that it will lay off more than 200 workers in San Diego as part of its ongoing strategy to optimize running costs.

The layoffs, affecting 226 employees, are set to take effect from November 12, and were spotted in a California Workers Adjustment and Retraining Notification (WARN) – a compulsory notification for companies operating in the state.

Although the company claims to have around 10,000 local workers, and 50,000 globally, the widespread nature of Qualcomm’s layoffs is concerning.

Qualcomm will lay off hundreds of workers

The job cuts are anticipated to affect workers from 16 different facilities in the San Diego area, including the company’s headquarters.

In a statement, a company spokesperson explained that the layoffs align with the company’s broader goal of business diversification: “As part of a normal course of business, we prioritize 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.”

The latest round of layoffs comes less than a year after the company made 1,250 workers redundant, more than 1,000 of whom in the San Diego area. Alarmingly, the latest cuts are believed to affect roles in operations, finance and senior engineering, including five VPs of engineering and one VP of technology.

Despite the workforce reductions, Qualcomm reported a strong financial quarter for the three months ending June 23, with revenue of $9.4 billion, up 11% year-over-year. Quarterly profits also rose, by a healthy 18%.

At the time, company CEO Cristiano Amon praised Qualcomm’s performance: “Our third quarter results reflect strong execution of our growth and diversification strategy, with QCT quarterly revenues and EBT margins at the high end of guidance.”

TechRadar Pro has asked Qualcomm to comment on the layoffs, but we did not receive an immediate response.

Via San Diego Union-Tribune

More from TechRadar Pro

Craig Hale
Craig Hale

With several years’ experience freelancing in tech and automotive circles, Craig’s specific interests lie in technology that is designed to better our lives, including AI and ML, productivity aids, and smart fitness. He is also passionate about cars and the decarbonisation of personal transportation. As an avid bargain-hunter, you can be sure that any deal Craig finds is top value!