Qualcomm Cutting 1,500 Jobs At Its California Offices (reuters.com) 31
As part of its promise to investors to cut annual costs by $1 billion, Qualcomm is cutting 1,500 jobs across multiple divisions at its offices in California. Reuters reports: The company, which has about 33,800 employees as of Sept.24, informed about its job cut plans in California in a regulatory notice that was filed with the state on April 18. Qualcomm said it plans to cut 1,231 jobs in its San Diego office and 269 from its San Jose and Santa Clara offices in the state. Though the company first considered cost reductions without layoffs, it concluded that job cuts are needed to support long-term growth and success, a Qualcomm spokesperson said on Wednesday.
Re: Great... (Score:2)
Less traffic at the 5/8 split! Woohoo!
Re: Great... (Score:1)
Re: (Score:2)
Of course it says as *part* of trying to save that much money.
It's probably more along the lines of 200 million a year (total expense including benefits, payroll tax, etc) and a little on the low end because I wager that they are not going to include too many of their top people.
Re: (Score:2)
Re: Qualcomm brain drain (Score:2)
My guess is those wireless network engineers aren't the ones being cut. Qualcomm hires hordes of tech people just to keep their business "organized". They could easily be cutting 1,200 business analysts, sys admins, middle tech management, etc.
Re: (Score:2)
Business analysts etc. who know nothing about finance. While we all like to think that if we can do X we can switch to Y as quick as changing our shirts domain knowledge is an actual thing.
Re: Qualcomm brain drain (Score:2)
My guess is the people who know what they're doing at Qualcomm are largely in divisions not seeing major cuts. Qualcomm continues to be at the cutting edge in mobile and wireless, and is helping lead development on 5g.
Reminds me of the chain stores (Score:2)
that close all their stores as a "cost savings"
Of course, there is no income with no brick and mortar stores in a brick and mortar chain;;;
Possibly related to ZTE? (Score:4, Interesting)
I wonder if this is in any way related to the recent ZTE decision. Qualcomm provides a lot of parts for ZTE, and with ZTE no longer able to buy parts from Qualcomm, they may be forced to go through some aggressive cost-cutting.
Given how close they are, it may simply be coincidence as well. Large companies don't do mass layoffs at the drop of a hat, after all.
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Can't think of any non Qualcomm mobile phone. Each Qualcomm chip not sold in a ZTE will be a Qualcomm sold by any other brand.
Qualcomm trying to get something? (Score:2)