caption Qualcomm CEO Steve Mollenkopf source Thomson Reuters Qualcomm will layoff a total of 1,500 employees across its San Diego and Bay Area locations, according to WARN filings with the state of California. The layoffs will take place on or around June 19 as part of the company’s efforts to reduce its spending by $1 billion. News of the layoffs come just weeks after President Trump issued an executive order preventing Broadcom, a Singapore-based competitor, from acquiring Qualcomm. $80 billion chipmaker Qualcomm has made its cost-cutting layoffs official. Qualcomm plans to layoff a total off 1,500 of its California-based employees on or around June 19, according WARN filings with the state of California. The reductions will impact approximately 1,231 employees in San Diego, where Qualcomm is headquartered. Another 269 layoffs will take place across its northern California offices in San … [Read more...] about Qualcomm layoffs will impact 1,500 Californians according to state filings
Layoffs
Qualcomm begins layoffs, trying to cut $1 billion, and its NXP bid faces objections in China
Qualcomm Inc. has begun notifying workers of layoffs at the same time the San Diego chipmaker’s $44-billion bid to acquire NXP Semiconductors is running into problems getting antitrust clearance from China.Qualcomm, a leading provider of chips for mobile phones, did not specify the number of employees being let go but said the cuts included permanent and temporary workers.The company — which employs 33,800 worldwide, including about 13,000 in San Diego — has said it is looking to cut about $1 billion from its operating expenses to help boost earnings.“A workforce reduction such as this one affects not only those employees who are part of the reduction but their families, co-workers and the community,” a Qualcomm spokesperson said in a statement Wednesday.“We recognize this and have offered affected employees supportive severance packages to reduce the impact of this transition on them,” the spokesperson said.Qualcomm had set the cost-savings … [Read more...] about Qualcomm begins layoffs, trying to cut $1 billion, and its NXP bid faces objections in China
PolitiFact fact-check: Chuck Schumer, Senate Democrats flub statistic on layoffs in 2018
As Americans rushed to file their taxes, the Democrats in the U.S. Senate produced a news release on April 16 that criticized the Republican-backed tax bill that President Donald Trump signed into law late last year.The document began, “As millions of Americans finish preparing their taxes, corporate executives are laughing all the way to the bank thanks to the Republican tax bill,” the document said.Executives, the release continued, are “laying off American workers — in fact, more than 100,000 American workers have already been laid off in 2018.”This statistic is wrong in two ways.The office of Senate Minority Leader Charles Schumer, D-N.Y., told us the 100,000-person count was based on public reporting of layoffs and was not intended to be comprehensive.However, there is a comprehensive number published every month by the Bureau of Labor Statistics. In January 2018, there were 1,784,000 layoffs, and in February, there were 1,647,000. That’s more … [Read more...] about PolitiFact fact-check: Chuck Schumer, Senate Democrats flub statistic on layoffs in 2018
Qualcomm begins layoffs as part of cost cuts
(Reuters) - Qualcomm Inc has begun cutting jobs as part of its promise to investors to cut annual costs by $1 billion, the chipmaker said on Wednesday. FILE PHOTO: The logo of Qualcomm is seen during the Mobile World Congress in Barcelona, Spain February 27, 2018. REUTERS/Yves Herman “Qualcomm is conducting a reduction of our full-time and temporary workforce,” a company spokesperson who declined to be identifies said, without disclosing the exact numbers of job cuts. Though the company first evaluated non-headcount expense reductions, it concluded that a workforce reduction is needed to support long-term growth and success, the spokesperson said. Qualcomm said it offered affected employees severance packages. It employed about 33,800 full-time, part-time and temporary employees, as of Sept 24. Bloomberg, which first reported the layoffs, said the size of the job cuts is large enough that Qualcomm will have to file a WARN … [Read more...] about Qualcomm begins layoffs as part of cost cuts
Qualcomm begins layoffs as part of promise to boost financial results
Qualcomm began notifying workers of layoffs on Wednesday as part of its previously announced plan to trim $1 billion in costs.The number of employees being let go, as well as the departments impacted, is unclear. Qualcomm declined to comment at this time. So far, it hasn’t filed a layoff notice under the state Worker Adjustment and Retraining Notification (WARN) Act, which requires 60 day heads up of mass job cuts.The cellular technology giant employs about 13,000 workers in San Diego and 33,800 globally. Fifty-two percent of its workforce is based in the U.S. The remainder are employed overseas.In addition to San Diego, the company has a significant number of U.S. employees in the Bay Area. Severance and other details were unavailable.In 2015, Quacomm slashed 1,315 jobs in San Diego and thousands in other locations globally at it trimmed $1.4 billion in costs.Despite those moves, Qualcomm’s 33,000-plus global workforce is roughly the same today as it was prior to the … [Read more...] about Qualcomm begins layoffs as part of promise to boost financial results