Qualcomm Begins Cutting Jobs to Meet Pledge to Slash Costs
- Company to reduce California workforce by about 1,500
- Management acting in response to shareholder pressure
Photographer: Brent Lewin/Bloomberg
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Qualcomm Inc. has begun cutting about 1,500 jobs in California as part of a broader workforce reduction aimed at meeting a commitment to investors to pare costs by $1 billion, according to people familiar with the process.
The layoffs in California represent the bulk of the cuts, though some positions will be eliminated in other locations, one person said. Globally, San Diego-based Qualcomm employs about 34,000 people.