Qualcomm to cut jobs worldwide in performance-focused layoffs, internal memo shows: Reuters reports
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓Qualcomm will cut jobs globally in a performance-focused reduction starting in November, according to a memo from CEO Cristiano Amon.
- ✓The company aims to build a stronger performance culture after sales fell.
- ✓Amon said, "We must have the right people in the right roles so they can perform best."
Story at a Glance
- Category
- BUSINESS
- Reported By
- The Economic Times
- Reading Speed
- 2 Minute(s)
- Market Focus
- India Economy
Synopsis
Qualcomm will begin notifying employees of job cuts in November as a part of its annual reviews. CEO Cristiano Amon mentioned the aim is to enhance the company's performance culture. The company faces challenges due to declining consumer electronics sales and soaring memory prices impacting demand. Qualcomm forecasts a shift in revenue sources towards non-handset businesses in the coming years.
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Qualcomm will cut jobs globally in a "performance-focused reduction" following its annual employee reviews, CEO Cristiano Amon told staff in a memo on Monday reviewed by Reuters, with notifications set to begin in November.
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The Economic Times
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