Chipmaker Qualcomm to lay off hundreds of employees in the US

The job cuts will impact workers at 16 facilities across San Diego

September 20, 2024

Qualcomm’s layoffs are scheduled for November 12

Chip giant Qualcomm has announced plans to lay offat least 226 employees in the United States as part of its business diversification strategy. The layoffs are scheduled for November 12 and were detailed in a California Worker Adjustment and Retraining Notification (WARN) notice, with the news first reported by The San Diego Union-Tribune.

The cuts will impact workers at 16 facilities across San Diego, including Qualcomm’s headquarters. A spokesperson for the company emphasized that the decision is aligned with their strategy to optimize resources and investments. “Our leading technology and product portfolio has positioned us to execute our diversification strategy,” the spokesperson stated.

Qualcomm’s recent decision follows a significant layoff in 2022 when the company cut 1,258 jobs as part of broader cost-cutting measures. In 2023, Qualcomm reported an annual revenue of $35.8 billion, indicating a focus on strategic realignment amid a changing market landscape.

The layoffs at Qualcomm come amidst a wave of job cuts in the tech industry. Cisco, another major tech firm, recently announced a reduction of approximately 5,600 employees, following earlier layoffs of around 4,000 workers in February. Cisco’s moves are part of an effort to invest in key growth opportunities and enhance operational efficiency.

Overall, more than 60,000 job cuts have been reported across 254 companies this year, according to layoffs tracker Layoffs.fyi. Major companies including Tesla, Amazon, Google, TikTok, Snap, and Microsoft have also undertaken significant layoffs, contributing to a global trend that saw approximately 262,735 tech employees lose their jobs in 2023—a 59 percent increase compared to 2022.

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