QUALCOMM PLANS WORLDWIDE JOB CUTS IN PERFORMANCE - FOCUSED LAYOFFS

What happened: Qualcomm CEO Cristiano Amon told staff in a memo that the company will cut jobs globally in a performance-focused reduction, with notifications starting in November. Key numbers: About 52,000 employees globally as of September last year. Why it matters: The memo did not state how many jobs are affected, and Reuters could not determine the scale. Qualcomm has been hit by a slump in consumer electronics sales and expects most chip sales to come from non-smartphone businesses by financial year 2027.

Qualcomm CEO Cristiano Amon told staff in a memo that the company will cut jobs globally in a performance-focused reduction, with notifications starting in November.

The memo did not state how many jobs are affected, and Reuters could not determine the scale. Qualcomm has been hit by a slump in consumer electronics sales and expects most chip sales to come from non-smartphone businesses by financial year 2027.