As chip competition heats up, Qualcomm starts cutting jobs
With pressure from Chinese chip makers like MediaTek pusning prices for chips down and the industry’s biggest clients Apple and Samsung having started making their own chips, San Diego-based Qualcomm might be forced to tighten the belts. The company reported worse-than-expected financial results last quarter when it closed the fiscal year, and it gave a weaker outlook for the next quarter.
The layoffs are currently happening in the company and executives as high as vice presidents have allegedly been let go and others have been demoted. One Qualcomm division has allegedly seen 100 job cuts.
With 31 000 employees, though, others within the chip maker are saying the reshuffle is nothing extraordinary and fit in an overall attempt to cut costs.