As part of its business diversification strategy, leading chipmaker Qualcomm is reportedly planning to lay off at least 226 people in the United States later this year.
Qualcomm reportedly sent out a California Worker Adjustment and Retraining Notification (WARN) notice on November 12th, announcing the impending layoffs. The San Diego Union-Tribune was the first to report on the layoffs.
Qualcomm spokesperson, Kristin Stiles, was coy when approached by journalist on when the slash is likely to occur, however, the layoffs, which were first reported by The San Diego Union-Tribune, will take effect the week of November 12.
The employment layoffs are viewed as a sign of Qualcomm’s shift in focus, which involves reallocating resources to new growth areas. This new round of layoffs comes after the corporation decided to remove roughly 1,250 jobs less than a year ago.
Despite the workforce reductions, Qualcomm generated $35.8 billion in revenue in 2023. Cristiano Amon, the company’s CEO, had a total remuneration of $23.5 million last year.
Qualcomm’s move to fire hundreds of staff comes less than a year after the chipmaker laid off over 1,250 people. Qualcomm’s annual sales in 2023 were $35.8 billion, while its CEO, Cristiano Amon, received a total executive remuneration of $23.5 million.
In a statement, Qualcomm spokesperson Kristin Stiles said: “Our leading technology and product portfolio has positioned us to execute our diversification strategy. As part of a normal course of business, we prioritize and align our investments, resources, and talent to ensure we are optimally positioned to take advantage of the unprecedented diversification opportunities in front of us.”
We earlier reported that Russian cybersecurity company, Kaspersky Lab, claimed that following the Department of Commerce’s announcement that the company cannot sell its products in the US, it will “gradually wind down” its US operations and fire its US-based staff.
