Qualcomm to lay off a reported 1500 workers in $1B cost-cutting push

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Qualcomm employs an estimated 34,000 full-time personnel globally, who work out of the firm's 177 worldwide offices. Besides, the company is also offering packages to the employees involved in the layoffs.

The company revealed the size of the layoffs when it filed Worker Adjustment and Re-Training Act notices, as required by law.

Qualcomm Inc. has launched a significant round of layoffs in a bid to fulfill a January pledge to reduce its annual expenses by $1 billion.

KitGuru Says: Qualcomm has been having a rough time lately, with various anti-trust lawsuits in play, Hopefully those affected by these job cuts end up landing on their feet. If Qualcomm is reportedly cutting jobs of 1,000 workers, it would affect about 3% of the global workforce of the company. The losses were mainly due to a $6 billion charge caused by United States tax reform, and a $1.2 billion charge imposed by the European Commission. Qualcomm has other major locations in the state and around the world.

China's ZTE may lose Android license as USA market woes build
The Shenzhen-headquartered telecom equipment maker will face a seven year ban on the use of American parts for its hardware. However, it could be that this ruling affects ZTE's deals with Google, specifically in the use of Google Play Services.

If that was not enough bad news, Apple has been reported that it will drop Qualcomm's orders for LTE modems and switch to Intel and MediaTek for the future, which will once again reduce the company's earnings.

The chipmaker had said in January that it is aiming to save almost $1 billion in costs when it risked a hostile takeover from Broadcom. The chipmaker has been streamlining its operations since then to improve revenue of the company.

The bid, however, was cancelled by the Trump administration on national security grounds.