Qualcomm to start job cuts

Qualcomm is reported by Bloomberg to be about to cut 1,500 jobs in California.

The company has 33,800 full-time and temporary employees.

Severance packages have been offered. “Qualcomm is conducting a reduction of our full-time and temporary workforce,”  says a spokesperson.

During its fight with Broadcom, Qualcomm told investors it would make $1 billion in cost savings.

Now, as well as its fight with Apple and its stalled takeover of NXP  – thanks to China’s delay in approving the deal – Qualcomm will be hit by a US government ban on selling chips to ZTE.

Yesterday, Gao Feng, a spokesman for China’s anti-trust regulator poured cold water on Qualcomm’s hopes for the deal saying its review had discovered  “related issues that are hard to resolve, making it difficult eliminate a negative impact.”

Qualcomm got  half of its $22.3 billion revenues from China last year.

 

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