Shulou(Shulou.com)11/24 Report--

CTOnews.com, Oct. 13, according to CNBC local time on Thursday afternoon, chip giant Qualcomm will cut about 1258 jobs in two offices in California. Qualcomm had about 51000 employees as of September 2022, according to the company's last annual financial report.

According to Tuyuan Pixabay, Qualcomm submitted a document to the California Department of Employment and Development showing that the company will lay off about 1064 employees in San Diego and 194 employees in Santa Clara, and the layoffs in both places will take effect before December 13.

According to the local worker adjustment and retraining notice law, companies must give 60 days' notice to employees before firing them.

Specifically, the layoffs will include several senior managers and hundreds of engineers, as well as some positions such as vice president of engineering, business analyst, assistant and product manager. In addition, eight vice presidents based in San Diego will also be laid off. However, no facilities will be closed at the two locations where layoffs are involved.

When CNBC contacted Qualcomm and asked for comment, Qualcomm said it had indicated in its results last quarter that it expected layoffs and restructuring costs.

CTOnews.com previously reported that Qualcomm announced 415 layoffs from its San Diego headquarters in the first half of this year after California submitted the worker Adjustment and retraining Notification Act (WARN).

In addition, the company laid off 84 employees in the Bay area in an attempt to consolidate its financial position in the wake of a slowdown in smartphone sales, especially in China.

To reduce layoffs and losses, Qualcomm is trying to diversify its business beyond smartphones, tablets and modems, such as into the automotive industry, where the company is said to have a large number of to-do lists with carmakers for a variety of applications, including intelligent infotainment systems and in-car driving. However, because the smartphone market generates most of the revenue for Qualcomm, it has to make some tough decisions.

According to a report in Taiwan's Economic Daily in August this year, it has been reported that Qualcomm has recently launched a price war to lock in mid-and low-end 5G mobile phone chips, and the price has been reduced by as much as 10% to 20%, in order to stimulate customers' willingness to pull goods and speed up inventory clearance. Qualcomm is expected to continue this wave of price cuts into the fourth quarter.

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