According to Bloomberg and CNBC on October 12, Qualcomm will cut about 1,258 employees in California, and if Qualcomm's 50,000 employees around the world are calculated, the proportion of layoffs in the United States accounts for about 2.5% of the global proportion.
Qualcomm's filings to the California Department of Employment Development show that the company will cut 1,064 employees in San Diego, Calif., and 194 in Santa Clara, for a total of about 1,258 people, starting in mid-December, effective around December 13.
More than 750 of the positions laid off are from Qualcomm's engineering team, including all levels from directors to technicians, and the rest will come from a wide range of positions including in-house technicians and accountants.
Qualcomm will release its fiscal fourth quarter (FY23Q4, third quarter of natural year) financial results for fiscal 2023 (FY23Q4, the third quarter of a natural year) as of the end of September this month, and its previous guidance for the fourth quarter of 2023 was $8.1-8.9 billion.
Previously, Qualcomm's full-year revenue in fiscal 2022 was $44.2 billion (of which FY22Q4 in the fourth quarter of fiscal 2022 was $11.396 billion), and as of now, Qualcomm's total revenue in the first three quarters of fiscal 2023 was $27.189 billion ($9.463 billion, $9.275 billion, $8.451 billion), and Qualcomm's revenue fell by about 21% in the third quarter of this year (FY23Q4) based on the highest guidance revenue of $8.9 billion in the fourth fiscal quarter of fiscal 2023. Revenue fell by about 18% in fiscal 2022 (FY22).
The following are some of the redundancy registration materials submitted by Qualcomm to the California Department of Employment Development:
