Cristiano Amon, president and CEO of Qualcomm, speaks in the course of the Milken Institute Global Conference in Beverly Hills, California, May 2, 2022.
Patrick T. Fallon | AFP | Getty Images
Qualcomm is reducing about 1,258 jobs in workplaces in two of its California areas, in accordance to latest filings with the California Employment Development Department.
The firm had about 51,000 staff as of Sept. 2022, in accordance to its final annual monetary submitting, so this is able to signify about 2.5% of that workforce.
The semiconductor producer notified the state Wednesday that it could be eliminating roughly 1,064 of its San Diego staff and 194 of its Santa Clara staff. The job cuts will take impact round Dec. 13 in each locations, the submitting stated.
Neither location may have any facility closures, the filings stated.
When CNBC contacted Qualcomm for remark, the corporate pointed again to its final quarterly earnings report, in which it observed that it was anticipating office reductions and associated restructuring fees.
“Given the continued uncertainty in the macroeconomic and demand surroundings, we count on to take further restructuring actions to allow continued investments in key development and diversification alternatives. While we’re in the method of growing our plans, we at the moment count on these actions to consist largely of workforce reductions, and in reference to any such actions we might count on to incur important further restructuring fees, a considerable portion of which we count on to incur in the fourth quarter of fiscal 2023. We at the moment anticipate these further actions to be considerably accomplished in the primary half of fiscal 2024.”
Qualcomm’s inventory was comparatively flat on the day.