Qualcomm Cutting 1,500 Jobs At Its California Offices (reuters.com)

As part of its promise to investors to cut annual costs by $1 billion, Qualcomm is cutting 1,500 jobs across multiple divisions at its offices in California. Reuters reports: The company, which has about 33,800 employees as of Sept.24, informed about its job cut plans in California in a regulatory notice that was filed with the state on April 18. Qualcomm said it plans to cut 1,231 jobs in its San Diego office and 269 from its San Jose and Santa Clara offices in the state. Though the company first considered cost reductions without layoffs, it concluded that job cuts are needed to support long-term growth and success, a Qualcomm spokesperson said on Wednesday.

Comments

Possibly related to ZTE?

[Phydeaux314]

I wonder if this is in any way related to the recent ZTE decision. Qualcomm provides a lot of parts for ZTE, and with ZTE no longer able to buy parts from Qualcomm, they may be forced to go through some aggressive cost-cutting.

Given how close they are, it may simply be coincidence as well. Large companies don't do mass layoffs at the drop of a hat, after all.