Qualcomm announced that it will lay off about 1,258 people in California: starting in mid-December, including engineers, senior managers

According to news from this site on October 13, CNBC reported on Thursday afternoon local time that chip giant Qualcomm will lay off approximately 1,258 employees at two offices in California. Qualcomm had about 51,000 employees as of September 2022, according to the company's last annual financial report.

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reported that Qualcomm submitted a document to the California Employment Development Department, Contents of the document It shows that the company will lay off approximately 1,064 employees in San Diego and 194 employees in Santa Clara. The layoffs in both locations will take effect on or about December 13.

Under the local Worker Adjustment and Retraining Notification Act, companies must give employees 60 days’ notice before laying them off.

Specifically, the layoffs will include several senior managers and hundreds of engineers, as well as some positions such as vice president of engineering, business analysts, assistants and product managers. In addition, eight San Diego-based vice presidents will also be laid off. However, neither location involved in the layoffs will close any facilities.

When CNBC contacted Qualcomm and asked for comment, Qualcomm said that In its last quarterly financial report, the company had already stated that it expected to lay off employees and pay related restructuring expenses.

This site previously reported that in the first half of this year, according to the "San Diego Union-Tribune", after California submitted the "Worker Adjustment and Retraining Notification Act" (WARN) documents, Qualcomm announced that it would withdraw from its San Diego headquarters Layoffs of 415 people.

The company also laid off 84 employees in the Bay Area in an effort to shore up its financial position, a move that came after smartphone sales slowed, especially in China.

In order to reduce layoffs and losses, Qualcomm is trying to diversify its business beyond smartphones, tablets and modems, such as delving into the automotive industry, where it is said to have a large backlog with automakers for various applications items, including intelligent infotainment systems and in-car driving. However, since the smartphone market generates most of Qualcomm's revenue, it has to make some tough decisions.

According to Taiwan's "Economic Daily" report in August this year, there is news in the industry that Qualcomm has recently launched a price war, targeting mid- to low-end 5G mobile phone chips, and the price reduction range is as high as 10% to 20%. Stimulate customers' willingness to buy goods and speed up inventory clearance. Qualcomm’s price cuts are expected to continue into the fourth quarter.

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