Qualcomm to cut roughly 1,258 jobs in California
Summary
Cristiano Amon, president and CEO of Qualcomm, speaks during the Milken Institute Global Conference in Beverly Hills, California, on May 2, 2022. The company had about 51,000 employees as of September 2022, according to its last annual financial filing, so this would represent about 2.5% of that workforce. When CNBC contacted Qualcomm for comment, the company pointed to its last quarterly earnings report, in which it noted that it was expecting workplace reductions and related restructuring charges. "Given the continued uncertainty in the macroeconomic and demand environment, we expect to take additional restructuring actions to enable continued investments in key growth and diversification opportunities. We currently anticipate these additional actions to be substantially completed in the first half of fiscal 2024."