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Qualcomm to Reduce Global Workforce
Qualcomm announced its plan to reduce its global workforce, based on an annual employee performance evaluation, with the goal of building a more performance-focused culture and addressing the company's repeated failures to meet expectations. The company did not specify the number of jobs to be cut, noting that it had approximately 52,000 employees as of September. This move comes amidst a decline in consumer electronics sales, particularly due to rising memory prices and their impact on demand. Despite weaker economic performance compared to other market indicators, Qualcomm's stock increased by 1.5% in 2026. The company anticipates that its business growth will be supported by expansion into non-smartphone sectors, especially artificial intelligence data centers, by the fiscal year 2027.
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