Qualcomm Plans 15% Layoffs
Amid cellular slump, 4,700 may lose jobs
Jessica Lipsky, EETimes
7/22/2015 08:45 PM EDT
NEW YORK -- Qualcomm will lay off 15% of it employees, an estimated 4,700 people, as part of a restructuring plan that may include spinning off non-strategic parts of the company. The mobile giant announced the plan to cut $1.4 billion in annual costs by 2016 along with its quarterly results which were down significantly but in line with expectations.
Revenues for Qualcomm's fiscal third quarter were $5.8 billion, down $1 billion year-over-year and $1.1 billion sequentially. Net profit was down a whopping 47% from the prior year to $1.2 billion.
E-mail This Article | Printer-Friendly Page |
Related News
Breaking News
- Alphawave Semi announced today a refocussing of the Board of Directors after reaching the three-year milestone since the Company's IPO
- Synopsys and Samsung Electronics Collaborate to Achieve First Production Tapeout of Flagship Mobile CPU with Leading Performance on Samsung Foundry's GAA Process
- Worldwide Silicon Wafer Shipments Dip 5% in Q1 2024, SEMI Reports
- GOWIN's progress in global automotive market gathers momentum with award of ISO 26262 certification for its FPGA design environment
- PCI-SIG® Announces CopprLink™ Cable Specifications for PCIe® 5.0 and 6.0 Technology
Most Popular
- Silvaco Announces Launch of Initial Public Offering
- TSMC's A16 Process Moves Goalposts in Tech-Leadership Game
- Radiation-Tolerant PolarFire® SoC FPGAs Offer Low Power, Zero Configuration Upsets, RISC-V Architecture for Space Applications
- Synopsys Accelerates Next-Level Chip Innovation on TSMC Advanced Processes
- QuickLogic Releases Aurora 2.6 with Expanded Operating System Support and Up to 15% Faster Performance