Qualcomm Set for Global Job Cuts

Qualcomm will begin implementing job cuts across the globe from November, with the reductions reportedly linked to employee performance, according to a report on Tuesday, citing a memo from Chief Executive Officer Cristiano Amon to staff.

The company has not disclosed how many employees will be affected by the planned cuts.

In the memo sent to employees on Monday, Amon cited the need to establish a “stronger performance culture” and address instances where employees have “consistently fallen short of expectations," according to the Reuters report.

Qualcomm employed around 52,000 people globally as of September 2025, the majority of whom worked full-time. The latest move comes as the chipmaker faces pressure from weakening demand for electronic products, partly driven by soaring memory prices.

According to the memo, Qualcomm will consider its business priorities, organisational requirements, and the skills and expertise of employees while carrying out the workforce reductions.

“As we have expanded the business, so have the competencies and skills we require,” Amon said in the memo.

“We must have the right people in the right roles so they can perform at their best and the company can continue to succeed,” he added.

The planned job cuts come as Qualcomm navigates a changing business environment and seeks to diversify its revenue beyond smartphones. In its July earnings report, the company projected quarterly profit below analysts’ estimates and warned that revenue from its Apple-related business would decline more rapidly than previously anticipated.

However, Qualcomm expects growing contributions from its data centre, automotive and other non-handset businesses to more than offset these losses by fiscal 2027.

The company has been stepping up its efforts to expand into high-growth markets, including artificial intelligence-powered data centres and connected-device technologies. Qualcomm has also said it expects most of its chip revenue to come from businesses outside the smartphone market by fiscal 2027, underscoring its strategy to reduce dependence on the handset segment.

Shares of Qualcomm fell 1.16 per cent in pre-market trading to $171.52 on the Nasdaq.