Jammu and Kashmir News Report

Layoffs at Qualcomm Start As Chipmaker Turns To Long-Term Growth: Report

Layoffs at Qualcomm have begun! Global chipmaker Qualcomm is allegedly beginning job layoffs, which would affect both temporary and full-time workers, as the world economy continues to struggle with a slump.

According to a report by IANS, Qualcomm is cutting staff as it aims to concentrate on long-term development. As a result, it has been suggested that Qualcomm may cut as many as 1,500 positions in California alone.

The global chipmaker, it continues, “struggles to close its purchase of NXP while concurrently meeting its goal to cut costs by $1 billion.”

Additionally, Qualcomm reportedly confirmed layoffs in an official statement by stating, “Qualcomm is conducting a reduction of our full-time and temporary workforce as part of the cost reduction plan announced in January. A workforce decrease like this one has an impact on the community as well as the affected employees' family and coworkers.

However, just like many businesses that have engaged in layoffs, Qualcomm reportedly provided supportive severance packages to those affected. This has been done to minimise how these layoffs or “transitions” would affect the workers.

The official statement on the layoffs at Qualcomm continues, “We first evaluated non-headcount expense reductions, but we concluded that a workforce reduction is needed to support long-term growth and success, which will ultimately benefit all our stakeholders.”

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