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Qualcomm cutting 1,500 jobs at its California offices

276 Views Friday, April 20th, 2018 at 5:08 pm   (3 years ago)   Feature Image, ICT News

Chipmaker Qualcomm Inc (QCOM.O) is cutting 1,500 jobs across multiple divisions at its offices in California, as part of its promise to investors to cut annual costs by $1 billion.

The company, which has about 33,800 employees as of Sept.24, informed about its job cut plans in California in a regulatory notice that was filed with the state on April 18.

Qualcomm said it plans to cut 1,231 jobs in its San Diego office and 269 from its San Jose and Santa Clara offices in the state.

 Though the company first considered cost reductions without layoffs, it concluded that job cuts are needed to support long-term growth and success, a Qualcomm spokesperson said on Wednesday.

Qualcomm had in January said it would implement a series of targeted reductions across businesses, as part of its attempt to win over investors support against a hostile bid from rival Broadcom Inc (AVGO.O).

The bid, however, was canceled by the Trump administration on national security grounds.

– Reuters

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