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Microchip Giant To Layoff Over 1,200 Next Month  

A global microchip manufacturer is axing 1,258 staff in California across all divisions, including human resources, as it contends with declining revenues. So reports CNN.

qualcommSan Diego-based Qualcomm notes that the job cuts will happen around Dec. 13 even after the firm announced a month earlier that it will provide its 5G chips to Apple until at least 2026. The company also supplies chips for Meta Quest 3.

“Given our commitment to operating discipline, we will proactively implement additional cost actions,” Qualcomm CFO Akash Palkhiwala said in August call with analysts. “Until we see sustained signs of improving fundamentals, our operating framework does not assume an immediate recovery.”

Read the full article from CNN.

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