Qualcomm decides to lay off 1000 employees

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As a part of its strategy to cut costs and increase earnings, Qualcomm has started to cut around 1,500 jobs.

Though a handful of positions will be eliminated from other locations, including some of the firm's worldwide offices, the majority of layoffs will reportedly affect Qualcomm's California-based employees in San Diego and San Jose, according to the sources. So far, it hasn't filed a layoff notice under the state Worker Adjustment and Retraining Notification (WARN) Act, which requires 60 day heads up of mass job cuts.

Though the company first evaluated non-headcount expense reductions, it concluded that a workforce reduction is needed to support long-term growth and success, the spokesperson said.

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A person familiar with the situation told Bloomberg that these layoffs represented majority of the cuts that the company would be making, though there may be more layoffs in other departments. It employed about 33,800 full-time, part-time and temporary employees, as of Sept 24.

Qualcomm had set the cost-savings goal during its battle with rival chipmaker Broadcom Ltd., which made an unwanted $117-billion buyout offer for Qualcomm.

Despite Broadcom's failure to acquire Qualcomm, the chip maker is still accountable for its pledge to investors.

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The stalled takeover bid follows escalating U.S. The fight seemed destined to continue, but US President Trump stepped in and prevented the merger on the grounds of national security.

In January the European Union commission approved Qualcomm's acquisition of NXP.

As Qualcomm continues in its NXP acquisition attempt, the company is also researching and developing hardware for next-generation technologies.

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