On April 19, Bloomberg reported that QUALCOMM plans to make up to 1500 layoffs to fulfill its commitment to cut costs by $1 billion annually in January this year.

Qualcomm is now the dominant player in the field of mobile chips and baseband. Its last major layoff was in 2015. At that time, due to the pressure of investors, Qualcomm launched a restructuring plan and cut thousands of employees. At present, Qualcomm has 33800 full-time, part-time and temporary employees.

This expected layoff is due to Qualcomm's commitment to cut costs by $1 billion annually in January to fight against the hostile acquisition of Broadcom (Anhuagao) and gain support from investors. Although the hostile takeover was stopped by the Trump government on the grounds of national security, Qualcomm still needs to fulfill its previous commitments.

The speaker who did not want to be named said that "Qualcomm is cutting full-time and temporary employees", but the specific number of layoffs was not disclosed. San Diego, the headquarters of QUALCOMM, is located in California. According to the law of that state, enterprises need to lay off 50 or more employees within 30 days, and they need to submit the "WARN" worker adjustment and retraining notice to the government. Therefore, once the layoff is severe, it may soon be known.

However, I haven't seen any fluctuations in Qualcomm's share price for the time being, which is really a response to the operation of the capital market.

In fact, on April 16, there was news that Qualcomm was about to cut staff. IOT, servers and QCT departments of the Internet of Things were the hardest hit areas, and Qualcomm's Internet of Things team cut staff by 40%. The server team has 50% layoffs and 50% job transfers. The QCT department has 80 people on the layoff list.

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