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.
To read the full article, click here
Related Semiconductor IP
- UCIe Chiplet PHY & Controller
- MIPI D-PHY1.2 CSI/DSI TX and RX
- Low-Power ISP
- eMMC/SD/SDIO Combo IP
- DP/eDP
Related News
- Qualcomm Layoffs Spawned by Letter
- Qualcomm Begins Layoffs
- Offshoring backlash rises as layoffs mount
- Layoffs Hit 1,600 in Cypress Deal
Latest News
- Global Semiconductor Sales Increase 17.1% Year-to-Year in February
- Altera Starts Production Shipments of Industry’s Highest Memory Bandwidth FPGA
- Blumind reimagines AI processing with breakthrough analog chip
- 32-bit RISC-V processor based on two-dimensional semiconductors
- pSemi Files Patent Infringement Lawsuit Against Cirrus Logic and Lion Semiconductor