American chip company Qualcomm plans to lay off over 1200 employees in California.
On the 12th, CNN reported that Qualcomm, headquartered in San Diego, California, has submitted a document to the state's employment development agency, proposing to lay off approximately 1258 employees in the state, including engineers, legal staff, and human resources.
This is a Qualcomm 5G autonomous concept car captured on February 26, 2018 at the World Mobile Conference in Barcelona, Spain. Photographed by Xinhua News Agency reporter Guo Qiuda
In a financial conference call held in August this year, Qualcomm's Chief Financial Officer, Akash Palkivala, said that given the expected decrease in revenue, companies will take measures to reduce costs.
Until we see signs of continuous improvement in fundamentals, our operational framework will not be based on the premise that economic recovery is imminent, "Palkivala said at the time
The UK's antitrust agency, the Competition and Market Management Agency, said at the end of last month that it is investigating Qualcomm's plan to acquire Israeli car chip manufacturer "Automotive Communications".
