Qualcomm has started cutting jobs in California, with aims to let go of around 1,500 people to meet a $1 billion savings commitment the company made to investors, reports Bloomberg. The job cuts are concentrated in California, but layoffs will also occur at other locations. The company currently employs around 33,800 people globally.
“We first evaluated non-headcount expense reductions, but we concluded that a workforce reduction is needed to support long-term growth and success, which will ultimately benefit all our stakeholders,” Qualcomm said in a statement to Bloomberg. In January, Qualcomm pledged to improve earnings by cutting its expenses by $1 billion via a cost reduction plan “designed to align our cost structure to our longterm…
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Author: Thuy Ong
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