- Qualcomm will lay off 226 workers in San Diego in November, impacting employees across 16 facilities, including its headquarters.
- The company recorded $35.8 billion in revenue in 2023, with CEO Cristiano Amon receiving $23.5 million in total executive compensation.
Qualcomm, a leading producer of smartphone chips, is set to lay off 226 workers in San Diego later this year. According to a California WARN notice released this week, the layoffs will take effect during the week of November 12, impacting employees across 16 different facilities in the region, including Qualcomm’s headquarters, which houses a cybersecurity presence.
The extent to which the cybersecurity team will be affected remains unclear, as Qualcomm has not disclosed specifics on this matter.
In a statement, Qualcomm spokesperson Kristin Stiles commented,
“Our leading technology and product portfolio has positioned us to execute on our diversification strategy. As part of a normal course of business, we prioritize and align our investments, resources, and talent to ensure we are optimally positioned to take advantage of the unprecedented diversification opportunities in front of us.”
The layoffs come on the heels of another workforce reduction, where Qualcomm let go of over 1,250 workers less than a year ago. Despite these cutbacks, Qualcomm recorded an impressive $35.8 billion in annual revenue for 2023.
Meanwhile, CEO Cristiano Amon received a total executive compensation package of $23.5 million during the same period.
Edited by Harshajit Sarmah
ALSO READ:
Harshajit Sarmah
