Qualcomm reportedly begins layoffs to cut $1B in costs

Report: Qualcomm cutting jobs as it looks to reduce costs by $1B amid Apple legal case

Report: Qualcomm cutting jobs as it looks to reduce costs by $1B amid Apple legal case

The company - which employs 33,800 people worldwide, including about 13,000 in San Diego - has said it is looking to cut about $1 billion from its operating expenses to help boost earnings.

The layoffs come just weeks after an agressive acquisition offer put Qualcomm's business on the global stage.

The layoff number was provided in a letter to San Diego Mayor Kevin Faulconer and Kristin Gaspar, chair of the San Diego County Board of Commissioners, under the federal Worker Adjustment and Retraining Notification Act. It is also understood that the layoffs will not just happen in California, but also in other locations where Qualcomm operates.

At separate letter advised officials in Santa Clara County in Northern California of an addition 269 layoffs.

Amid its ongoing legal battle with Apple, Qualcomm is said to be cutting jobs in an effort to reduce costs. The American semiconductor company confirmed the massive layoff, which will cover both full-time and contractual employees who will receive separation payments, according to Bloomberg, which cited a source familiar with the move. Broadcom's attempt to takeover was shot down by President Trump after he intervened in the potential merger, blocking it in the interest of national security.

In a statement, a Qualcomm spokesperson said that the board "first evaluated non-headcount expense reductions" but ultimately concluded that cutting staff would lead to "long-term growth and success".

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