Qualcomm to Begin Global Layoffs in November, CEO Announces

Qualcomm CEO Cristiano Amon has announced that the company will initiate global layoffs focused on performance following annual employee evaluations. Notifications regarding these layoffs are set to begin in November, as detailed in an internal memo reviewed by Reuters. Amon emphasized that this decision aims to foster a stronger performance culture and address the company's ongoing challenges in meeting expectations.

The memo did not specify the number of layoffs, and the scale of the reductions remains unclear. Amon indicated that the layoffs will consider various factors, including business priorities, organizational needs, and the necessary skills and expertise as Qualcomm continues to evolve. As of September 2025, Qualcomm employs approximately 52,000 individuals worldwide, primarily in full-time roles.

Qualcomm, a leading smartphone chip manufacturer, has faced difficulties this year due to sluggish consumer electronics sales and rising memory chip prices, which have dampened demand in key markets. Despite a modest increase of about 1.5% in its stock price since the start of the year, Qualcomm's performance has lagged behind broader market indices, with the S&P 500 rising over 12% and the Philadelphia Semiconductor Index increasing nearly 60%. Following the announcement, Qualcomm's stock price fell approximately 1% in pre-market trading. In its latest earnings report, the company projected quarterly profits to fall below market expectations, particularly noting a faster-than-anticipated decline in revenue from Apple products.

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Source: KLEA News