QUALCOMM LAYOFFS : QUALCOMM TO CUT JOBS WORLDWIDE IN PERFORMANCE - FOCUSED LAYOFFS , INTERNAL MEMO SHOWS : REUTERS REPORTS

What happened: Qualcomm is cutting jobs worldwide in performance-focused layoffs, according to an internal memo reported by Reuters. CEO Amon said the cuts aim to build a stronger performance culture and address areas where the company has fallen short of expectations. Key numbers: Memo did not specify the number of jobs affected. Why it matters: Qualcomm has been hit this year by a slump in consumer electronics sales. It expects most chip sales to come from non-smartphone businesses by fiscal 2027 as it expands into the AI data-center market. Coverage: 3 outlets in 24h

Qualcomm is cutting jobs worldwide in performance-focused layoffs, according to an internal memo reported by Reuters. CEO Amon said the cuts aim to build a stronger performance culture and address areas where the company has fallen short of expectations.

Qualcomm has been hit this year by a slump in consumer electronics sales. It expects most chip sales to come from non-smartphone businesses by fiscal 2027 as it expands into the AI data-center market.