Cristiano Amon, president and CEO of Qualcomm, speaks throughout the Milken Institute International Convention in Beverly Hills, California, Might 2, 2022.
Patrick T. Fallon | AFP | Getty Photographs
Qualcomm is chopping about 1,258 jobs in places of work in two of its California places, in keeping with current filings with the California Employment Improvement Division.
The corporate had about 51,000 staff as of Sept. 2022, in keeping with its final annual monetary submitting, so this could characterize about 2.5% of that workforce.
The semiconductor producer notified the state Wednesday that it will be eliminating roughly 1,064 of its San Diego staff and 194 of its Santa Clara staff. The job cuts will take impact round Dec. 13 in each locations, the submitting stated.
Neither location can have any facility closures, the filings stated.
When CNBC contacted Qualcomm for remark, the corporate pointed again to its final quarterly earnings report, by which it observed that it was anticipating office reductions and associated restructuring prices.
“Given the continued uncertainty within the macroeconomic and demand surroundings, we count on to take further restructuring actions to allow continued investments in key progress and diversification alternatives. Whereas we’re within the means of growing our plans, we at the moment count on these actions to consist largely of workforce reductions, and in reference to any such actions we might count on to incur vital further restructuring prices, a considerable portion of which we count on to incur within the fourth quarter of fiscal 2023. We at the moment anticipate these further actions to be considerably accomplished within the first half of fiscal 2024.”
Qualcomm’s inventory was comparatively flat on the day.
