Qualcomm To Cut Jobs Worldwide In Performance-Based Layoffs, CEO Tells Staff
Qualcomm is reportedly looking to cut jobs across its global workforce in what its chief executive described as a 'performance-focused reduction'. Notifications to affected employees are due to begin in November.What the memo saysCEO Cristiano Amon wrote to staff that the cuts will follow the company's annual employee reviews, Reuters reported. He said the move is meant to build 'a stronger performance culture' and to deal with cases where people have repeatedly failed to meet expectations. He added that business priorities, organisational needs, skills and expertise will all be considered when deciding who goes. As the company has grown, Amon wrote, the skills it needs have changed, and it must put the right people in the right roles.Qualcomm Announces Worldwide Job Cuts From November As CEO Pushes Stronger Performance CultureThe memo gave no figure for the number of jobs affected. The company had around 52,000 employees worldwide as of September last year, most of them full-time, the report said.Weak handset demandQualcomm, one of the world's largest smartphone chipmakers, has been hurt this year by a slump in consumer electronics sales, as sharply higher memory prices dampen demand in key markets. The stock has gained only 1.5 percent in 2026, against a rise of more than 12 percent for the S&P 500 and nearly 60 percent for the Philadelphia Semiconductor Index. Qualcomm shares were up more than 1 percent on Tuesday after trading about 0.5 percent lower earlier in the session.Qualcomm Sells ₹184 Crore Shadowfax StakeApple revenue and the AI data-centre pushIn its most recent earnings report in late July, Qualcomm forecast quarterly profit below analyst estimates and said revenue from Apple products would fall faster than it had expected. The company also indicated that
Published Oct 21, 2026 · 1:00 AMOriginal source: Free Press Journal3 reads
Qualcomm is reportedly looking to cut jobs across its global workforce in what its chief executive described as a 'performance-focused reduction'. Notifications to affected employees are due to begin in November.What the memo saysCEO Cristiano Amon wrote to staff that the cuts will follow the company's annual employee reviews, Reuters reported. He said the move is meant to build 'a stronger performance culture' and to deal with cases where people have repeatedly failed to meet expectations. He added that business priorities, organisational needs, skills and expertise will all be considered when deciding who goes. As the company has grown, Amon wrote, the skills it needs have changed, and it must put the right people in the right roles.Qualcomm Announces Worldwide Job Cuts From November As CEO Pushes Stronger Performance CultureThe memo gave no figure for the number of jobs affected. The company had around 52,000 employees worldwide as of September last year, most of them full-time, the report said.Weak handset demandQualcomm, one of the world's largest smartphone chipmakers, has been hurt this year by a slump in consumer electronics sales, as sharply higher memory prices dampen demand in key markets. The stock has gained only 1.5 percent in 2026, against a rise of more than 12 percent for the S&P 500 and nearly 60 percent for the Philadelphia Semiconductor Index. Qualcomm shares were up more than 1 percent on Tuesday after trading about 0.5 percent lower earlier in the session.Qualcomm Sells ₹184 Crore Shadowfax StakeApple revenue and the AI data-centre pushIn its most recent earnings report in late July, Qualcomm forecast quarterly profit below analyst estimates and said revenue from Apple products would fall faster than it had expected. The company also indicated that growth in data-centre and other non-handset businesses should more than make up for the lost revenue by fiscal 2027. Its financial year typically ends in late September.Qualcomm expects most of its chip sales in fiscal 2027 to come from businesses outside smartphones, as it expands into the fast-growing market for AI data-centre chips.
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