Qualcomm to Trim Headcount By 600
Qualcomm today indicated it is laying off about 600 people, or 2% of its global workforce of 31,300. The cuts are part of several measures the chip-maker is taking to reduce expenses by about $100 million. Qualcomm saw its growth slow to 6.5% this year, compared to about 30% last year. The company attributed some of its growth problems to China, where it typically generates about 50% of its revenue. Qualcomm said it is facing lawsuits there, as well as delayed royalty payments for its technology. The company said about half of those losing their jobs are located in California. Qualcomm is headquartered in San Diego.
Qualcomm to Cut 1,300 Jobs in San Diego
Qualcomm on Thursday sent termination notices to about 1,300 workers at its San Diego headquarters. The company gave affected workers 60-days notice, listing Nov.
Qualcomm Weighing Potential Breakup and Job Cuts
Qualcomm is preparing to conduct an in-depth review of its corporate strategy that could lead to the company breaking into several separate entities, reports the Wall Street Journal. Activist investors have begun to push Qualcomm towards a possible split, which would see the company's chip-production and patent-licensing businesses pulled apart.
After China Settlement, Korea Now Eyeing Qualcomm
South Korea's Fair Trade Commission is weighing whether or not to investigate Qualcomm's business practices. Regulators there believe Qualcomm may have abused its position as the largest chipmaker to charge higher royalty rates for its patents.
Qualcomm to Cut Jobs Amidst Cost Restructuring
Qualcomm today said it will pursue aggressive cost restructuring, including the elimination of jobs, as it seeks to balance its financials. Qualcomm indicated it plans to slash $1.4 billion in expenses through a number of different actions, including job cuts of about 4,500, or 15% of its work force.
Apple Sues Qualcomm In China
Apple has filed a fresh lawsuit against Qualcomm, this time in China where it alleges Qualcomm abused its market position to score higher patent-licensing fees. Apple also said Qualcomm failed to honor its promise to license standard essential patents at fair rates, reports Reuters.