Qualcomm to Trim Headcount By 600
Dec 10, 2014, 6:35 PM by Eric M. Zeman
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.
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