Qualcomm has reportedly started layoffs, impacting both full-time and temporary employees. The global chip-maker is making job cuts as “workforce reduction is needed to support long-term growth and success”.
According to a report by news agency IANS, Qualcomm may eliminate 1,500 jobs in California alone.
“As part of the cost reduction plan announced in January, Qualcomm is conducting a reduction of our full-time and temporary workforce. A workforce reduction, such as this one, affects not only those employees who are part of the reduction, but their families, co-workers and the community,” Qualcomm was quoted as saying.
The US-based company has reportedly offered severance packages to affected employees in order to reduce the impact of the transition on them.
“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,” the company was quoted as saying.
Job cuts at Qualcomm
Qualcomm reduced the employee headcount by 79 from its San Diego headquarters earlier this year and cut jobs of 153 employees in December.
In January this year, Qualcomm said that it froze hiring in response to a faster-than-feared decline in demand for phones, which use its chips. It also expected smartphone shipments to decline in the double-digit per cent range this year, worse than the outlook it gave earlier.
Qualcomm purchase of NXP
The development comes at a time when the US-based chip maker is struggling to close its purchase of NXP semiconductors while concurrently meeting its goal to cut costs by $1 billion, the report said.
Earlier this month, Qualcomm said that at the request of the Ministry of Commerce in China, it refiled its application to acquire Dutch company NXP.
China is the only country that hasn’t approved Qualcomm’s purchase of NXP. The company had walked away from a $44 billion deal to buy NXP Semiconductors after failing to secure Chinese regulatory approval.
According to a report by news agency IANS, Qualcomm may eliminate 1,500 jobs in California alone.
“As part of the cost reduction plan announced in January, Qualcomm is conducting a reduction of our full-time and temporary workforce. A workforce reduction, such as this one, affects not only those employees who are part of the reduction, but their families, co-workers and the community,” Qualcomm was quoted as saying.
The US-based company has reportedly offered severance packages to affected employees in order to reduce the impact of the transition on them.
“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,” the company was quoted as saying.
Job cuts at Qualcomm
Qualcomm reduced the employee headcount by 79 from its San Diego headquarters earlier this year and cut jobs of 153 employees in December.
In January this year, Qualcomm said that it froze hiring in response to a faster-than-feared decline in demand for phones, which use its chips. It also expected smartphone shipments to decline in the double-digit per cent range this year, worse than the outlook it gave earlier.
Qualcomm purchase of NXP
The development comes at a time when the US-based chip maker is struggling to close its purchase of NXP semiconductors while concurrently meeting its goal to cut costs by $1 billion, the report said.
Earlier this month, Qualcomm said that at the request of the Ministry of Commerce in China, it refiled its application to acquire Dutch company NXP.
China is the only country that hasn’t approved Qualcomm’s purchase of NXP. The company had walked away from a $44 billion deal to buy NXP Semiconductors after failing to secure Chinese regulatory approval.
window.TimesApps = window.TimesApps || {}; var TimesApps = window.TimesApps; TimesApps.toiPlusEvents = function(config) { var isConfigAvailable = "toiplus_site_settings" in f && "isFBCampaignActive" in f.toiplus_site_settings && "isGoogleCampaignActive" in f.toiplus_site_settings; var isPrimeUser = window.isPrime; if (isConfigAvailable && !isPrimeUser) { loadGtagEvents(f.toiplus_site_settings.isGoogleCampaignActive); loadFBEvents(f.toiplus_site_settings.isFBCampaignActive); } else { var JarvisUrl="https://jarvis.indiatimes.com/v1/feeds/toi_plus/site_settings/643526e21443833f0c454615?db_env=published"; window.getFromClient(JarvisUrl, function(config){ if (config) { loadGtagEvents(config?.isGoogleCampaignActive); loadFBEvents(config?.isFBCampaignActive); } }) } }; })( window, document, 'script', );
For all the latest Technology News Click Here
For the latest news and updates, follow us on Google News.
Denial of responsibility! NewsBit.us is an automatic aggregator around the global media. All the content are available free on Internet. We have just arranged it in one platform for educational purpose only. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials on our website, please contact us by email – [email protected]. The content will be deleted within 24 hours.
