Overview
- CEO Cristiano Amon told staff in an internal memo that Qualcomm will implement a global, performance-focused reduction after annual employee reviews, with notifications starting in November.
- The memo says the layoffs are intended to build a stronger performance culture and address roles where employees have consistently fallen short of expectations.
- The company did not disclose how many positions will be cut or which teams and locations will be affected, and Reuters could not immediately determine the scale.
- Qualcomm has cited weak demand for smartphones and consumer electronics plus higher memory prices as drivers of the decision, after July guidance showed lower profit forecasts and faster declines in Apple-related revenue.
- The firm is accelerating a move into AI data-center chips, automotive and other non-handset businesses and expects most chip sales to come from those markets by fiscal 2027, a shift that company leaders say motivates the workforce realignment.