Cristiano Amon, president and CEO of Qualcomm, speaks throughout the Milken Institute World Convention in Beverly Hills, California, Could 2, 2022.
Patrick T. Fallon | AFP | Getty Pictures
Qualcomm is reducing about 1,258 jobs in workplaces in two of its California areas, in accordance with latest filings with the California Employment Improvement Division.
The corporate had about 51,000 staff as of Sept. 2022, in accordance with its final annual monetary submitting, so this might 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 can have any facility closures, the filings stated.
When CNBC contacted Qualcomm for remark, the corporate pointed again to its final quarterly earnings report, by which it observed that it was anticipating office reductions and associated restructuring costs.
“Given the continued uncertainty within the macroeconomic and demand setting, we anticipate to take extra restructuring actions to allow continued investments in key development and diversification alternatives. Whereas we’re within the strategy of growing our plans, we presently anticipate these actions to consist largely of workforce reductions, and in reference to any such actions we’d anticipate to incur important extra restructuring costs, a considerable portion of which we anticipate to incur within the fourth quarter of fiscal 2023. We presently anticipate these extra actions to be considerably accomplished within the first half of fiscal 2024.”
Qualcomm’s inventory was comparatively flat on the day.