Home » US business news • US Employment News » Qualcomm eliminates over 1,200 jobs in California
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Leading smartphone chip maker Qualcomm is cutting 1,258 jobs in California after facing subdued demand for its primary product.
The affected positions are in San Diego and Santa Clara, California, as reported to the California Employment Development Department.
The company didn’t disclose the total scale of the workforce reductions.
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The cuts will primarily hit its engineering ranks, with over 750 eliminated positions.
The layoffs affect various roles, from director-level roles down to technicians.
The remaining job cuts are distributed across various departments, including internal technical staff and accounting.
Qualcomm plans to initiate this downsizing around mid-December.
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In August, CFO Akash Palkhiwala told analysts that Qualcomm would “proactively implement additional cost actions.”
“We had previously communicated we would evaluate additional cost actions as the environment continues to evolve.
“Until we see sustained signs of improving fundamentals, our operating framework does not assume an immediate recovery.”
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The company will report its earnings in the upcoming month, and it expects a reduction in revenue by approximately 19 percent for the current fiscal year.
While CEO Cristiano Amon seeks to diversify its product portfolio into new areas, most of its revenue is still generated from the smartphone market.
However, the demand for smartphones, especially in China, has not rebounded as quickly as earlier projections had indicated.
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