Qualcomm to reduce global workforce for performance

Qualcomm plans to reduce its global workforce as part of its efforts to improve performance and address declining sales, based on the company's annual employee performance evaluation. Employee notifications affected by these cuts are scheduled to begin in November. The company declined to specify the number of job reductions, although it employed approximately 52,000 people as of September. This move comes amid a decline in consumer electronics sales due to rising memory prices, which has led to limited growth in the company's shares during 2026. However, there are expectations to boost activities outside of smartphones, such as data centers and the artificial intelligence market, during the 2027 fiscal year.

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