{"id":1358,"date":"2023-10-15T09:33:05","date_gmt":"2023-10-15T09:33:05","guid":{"rendered":"https:\/\/connectwithfund.com\/business\/chipmaker-qualcomm-to-lay-off-over-1200-california-workers\/"},"modified":"2023-10-15T09:33:06","modified_gmt":"2023-10-15T09:33:06","slug":"chipmaker-qualcomm-to-lay-off-over-1200-california-workers","status":"publish","type":"post","link":"https:\/\/connectwithfund.com\/?p=1358","title":{"rendered":"Chipmaker Qualcomm to lay off over 1200 California workers"},"content":{"rendered":"<div data-editable=\"content\" itemprop=\"articleBody\" data-reorderable=\"content\">\n<p class=\"paragraph inline-placeholder\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/paragraph_33861F8C-A594-34A7-E9A3-2568844A2769@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n      Qualcomm, one of the largest microchip manufacturers globally, is scaling back its workforce.\n  <\/p>\n<p class=\"paragraph inline-placeholder\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/paragraph_AEE74755-FDF5-6DEE-9E19-2569B79B5F7B@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n      The San Diego, California-based company will be laying off about 1258 roles in California, according to a filing with the California Employment Development Department. Impacted employees include those based out of San Diego and Santa Clara in multiple roles, from engineers to legal counsel to human resources, with job reductions coming around December 13th.\n  <\/p>\n<p class=\"paragraph inline-placeholder\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/paragraph_FEBD9F2F-F664-E75A-A603-2569B79D95B7@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n      The layoff news comes about a month after the company announced a deal with Apple to provide 5G chips through at least 2026. Qualcomm is also the chip supplier for the newly announced Meta Quest 3.\n  <\/p>\n<p class=\"paragraph inline-placeholder\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/paragraph_D846166A-377E-01A8-7142-2569B7A65A66@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n      But in an August call with analysts, Chief Financial Officer Akash Palkhiwala warned that the company would be taking proactive measures to cut costs as the company faces shrinking revenue.\n  <\/p>\n<p class=\"paragraph inline-placeholder\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/paragraph_16D89940-127C-D126-139E-2569B7A9872C@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n      \u201cGiven our commitment to operating discipline, we will proactively implement additional cost actions,\u201d Palkhiwala said on the August call. \u201cUntil we see sustained signs of improving fundamentals, our operating framework does not assume an immediate recovery.\u201d\n  <\/p>\n<\/p><\/div>\n<p>Read the full article <a href=\"https:\/\/www.cnn.com\/2023\/10\/12\/tech\/qualcomm-layoffs\/index.html\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Qualcomm, one of the largest microchip manufacturers globally, is scaling back its workforce. The San Diego, California-based company will be laying off about 1258 roles in California, according to a filing with the California Employment Development Department. Impacted employees include those based out of San Diego and Santa Clara in multiple roles, from engineers to legal counsel to human resources, with job reductions coming around December 13th. The layoff news comes about a month after the company announced a deal with Apple to provide 5G chips through at least 2026. Qualcomm is also the chip supplier for the newly announced<\/p>\n","protected":false},"author":1,"featured_media":1359,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[36],"tags":[],"class_list":["post-1358","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Chipmaker Qualcomm to lay off over 1200 California workers | ConnectWithFund<\/title>\n<meta name=\"description\" content=\"Qualcomm, one of the largest microchip manufacturers globally, is scaling back its workforce. 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