More than a thousand Qualcomm employees are set to lose their jobs in California on or around Dec. 13 this year.
As CNBC reports, two filings with the California Employment Development Department reveal 1,258 jobs are being cut; 1,064 are employees based at Qualcomm’s San Diego office, and 194 are from the company’s Santa Clara office. Qualcomm employs around 51,000 people in total.
As to why the job cuts are happening, Qualcomm didn’t go into detail beyond pointing the media to its last quarterly earnings report filed in early August. At the time, Qualcomm warned of a workforce reduction due to “additional restructuring actions” related to the “continued uncertainty in the macroeconomic and demand environment.”
This news comes ahead of the Snapdragon Summit 2023 on Oct. 24-26 in Hawaii, where Qualcomm will reveal its Snapdragon X next-generation consumer and commercial PC platform. It also follows some positive announcements by the company, including the fact that Meta’s Quest 3 headset is powered by a Snapdragon XR2 Gen 2 chip and new Snapdragon G chipsets for Android and cloud gaming.
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In September, Qualcomm also announced that it will supply Apple with Snapdrgaon 5G modems for all iPhones launching in 2024, 2025, and 2026, though that arrangement is expected to change once Apple figures out to make its own modems.
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The post 1,258 Qualcomm Employees to Lose Their Jobs in California first appeared on www.pcmag.com