The Strategist

Qualcomm to lay off 2.5% of employees in mid-December

10/16/2023 - 03:48

U.S. Qualcomm Inc., one of the biggest producers of semiconductor components worldwide, plans to eliminate certain jobs in California in order to reduce 2.5% of its staff, reports MarketWatch.

Kārlis Dambrāns
Kārlis Dambrāns
According to papers the manufacturer submitted to authorities, the business would lay off 1,064 workers in San Diego, which is home to Qualcomm's headquarters, and another 194 in Santa Clara on December 13.

Currently, 51,000 employees work for the organization worldwide.

Qualcomm posted its third-quarter fiscal figures in August, revealing a twofold decline in net income. Concurrently, the manufacturer's revenue experienced a 23% decline and failed to meet the expectations of analysts. The business also announced plans to restructure in order to get over the challenges.

Qualcomm's capitalization has increased by 1.4% since the start of 2023.


< >

Thursday, May 16th 2024 - 03:10 HSBC starts looking for new CEO