Qualcomm announces global workforce reduction to boost performance culture

Qualcomm disclosed plans to reduce its global workforce following the completion of its annual employee reviews, according to a memo from CEO Cristiano Amon. The reduction is described as "performance-focused" and aims to build a stronger performance culture after the firm fell short of expectations in key areas. No specific headcount was provided, and the company has not responded to comment requests.

With roughly 52,000 employees worldwide, Qualcomm has struggled this year due to a slump in smartphone chip sales and high memory prices, causing its stock to underperform broader indices. In its latest earnings release, the company warned of lower quarterly profit and a faster-than-expected decline in revenue from Apple products, while betting on growth in data-center and AI markets to offset the loss by fiscal 2027. Amon said future cuts will consider business priorities, required skills, and organizational needs.