California: Qualcomm to reduce workforce in California by December

A recent filing with the California Employment Development Department has revealed that Chip designer Qualcomm intends to cut its workforce significantly. The filing noted that Qualcomm is cutting 1,258 jobs in San Diego and Santa Clara, California, to reduce costs. The job cuts are to begin by December 2023.

Qualcomm, which currently has a workforce of about 50,000 employees, will be cutting the jobs of 1,258 people, inclusive of 750 engineers at a variety of seniority levels from director to technician. The other number will be cut from various roles, including internal technical staff and accounting.

Qualcomm's CFO Akash Palkhiwala said, "We had previously communicated we would evaluate additional cost actions as the environment continues to evolve. Until we see sustained signs of improving fundamentals, our operating framework does not assume an immediate recovery."