Europe's Aviation Sector on Track to Meet 2025 Green Fuel Mandate 
Dollar Surges to Nine-Month High as Middle East Tensions Drive Safe-Haven Demand 
Chinese Universities with PLA Ties Found Purchasing Restricted U.S. AI Chips Through Super Micro Servers 
Bank of America's $72.5M Epstein Settlement: What You Need to Know 
Norma Group Posts Revenue Decline in 2025, Eyes Modest Recovery in 2026 
South Korea Manufacturing PMI Hits 4-Year High in March 2025 Driven by Semiconductor Demand 
China Manufacturing PMI Hits 12-Month High Amid Energy Price Concerns 
Cathay Pacific Holds Firm on Flight Capacity Amid Middle East Conflict and Rising Fuel Costs 
Brown-Forman and Pernod Ricard in Merger Talks to Create World's Largest Spirits Giant 
Australia Bans Card Payment Surcharges Starting October 2025 
SoftwareONE Posts 22.5% Revenue Surge in 2025 on Crayon Acquisition 
Gold Prices Rebound But Head for Worst Month Since 2008 Amid Iran War Uncertainty 
Gulf War Ceasefire Hopes Weigh on Dollar Ahead of Trump Address 
Gold Prices Surge as U.S.-Iran Ceasefire Talks Spark Market Optimism 
RBC Capital: European Medtech Firms Show Minimal Middle East and Energy Risk Exposure 
McDonald's and Restaurant Brands International Face Headwinds Amid Iran Conflict and Rising Costs 
U.S. Stock Futures Surge After WSJ Report on Trump's Iran War Exit Strategy 
Qualcomm Incorporated will lay off 1,258 employees across two California offices, according to recent filings with the Employment Development Department of California. The move follows indications of workforce reductions in the company's latest quarterly report.
As of September 2022, Qualcomm has around 51,000 workers, so these job terminations will reduce the company’s workforce by 2.5%. These figures were also sourced from the said filing with the EDD.
The Offices Affected by the Job Cuts
According to CNBC, Qualcomm sent out its notification for the layoffs on Wednesday, Oct. 12. Two cities were also informed about the imminent job cuts, and these are San Diego, where 1,054 workers are affected and Santa Clara, where 194 company employees are set to lose their jobs.
Based on the firm’s announcement, the terminations in the two California cities are all taking effect on Dec. 13. While there will be layoffs, the company clarified that facilities will not be closed. It was also noted that Qualcomm already hinted during its most recent quarterly earnings report that there will be workplace reductions and restructuring within the firm.
“With the continued uncertainty in the macroeconomic and demand environment, we expect to take additional restructuring actions to enable continued investments in key growth and diversification opportunities,” the chipmaker said in a statement.
Reason for the Workforce Reduction
In a call with analysts in August, CNN Business reported that Qualcomm’s chief financial officer, Akash Palkhiwala, said they will take aggressive measures to trim down costs. He explained that the company is facing declining sales revenue, and the job cuts in December are surely one of the actions the management has planned to reduce its expenses.
“Given our commitment to operating discipline, we will proactively implement additional cost actions,” the CFO said during the August call. “Until we see sustained signs of improving fundamentals, our operating framework does not assume an immediate recovery.”
Photo by: Tech.Co/Flickr(CC BY-SA 2.0)
