Weak smartphone business: Qualcomm announces job cuts worldwide
The chip group plans to cut jobs and build a "stronger performance culture". Affected staff will be informed from November – how many is unclear.
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US chip developer Qualcomm is planning job cuts worldwide. This emerges from an internal memo from CEO Cristiano Amon to staff, seen by the Reuters news agency. The aim is a "stronger performance culture". Affected employees are to be notified starting in November. The memo does not say how many jobs will go. Decisions will take into account business priorities, organisational needs and existing skills and expertise. "As our business has expanded, the competencies and skills we need have also changed," Amon wrote. Qualcomm could not initially be reached for comment.
Qualcomm is one of the world's largest developers of smartphone chips and is suffering from weak sales of consumer electronics. In late July the company forecast quarterly profit below market expectations. It also said revenue from products for Apple was falling faster than initially assumed. According to the company, growth in data centres and other businesses outside smartphones should more than offset the revenue losses through fiscal year 2027.