The San Diego-based chipmaker confirmed it will hold mass layoffs in San Diego, San Jose and Santa Clara around June 19, 2018.
- Qualcomm will layoff a total of 1,500 employees across its San Diego and Bay Area locations, according to WARN filings with the state of California.
- The layoffs will take place on or around June 19 as part of the company's efforts to reduce its spending by $1 billion.
- News of the layoffs come just weeks after President Trump issued an executive order preventing Broadcom, a Singapore-based competitor, from acquiring Qualcomm.
$80 billion chipmaker Qualcomm has made its cost-cutting layoffs official.
Qualcomm plans to layoff a total off 1,500 of its California-based employees on or around June 19, according WARN filings with the state of California.
The reductions will impact approximately 1,231 employees in San Diego, where Qualcomm is headquartered. Another 269 layoffs will take place across its northern California offices in San Jose and Santa Clara.
It's unclear how layoffs will impact employees in other states or countries. As of September 2017, Qualcomm employs 33,800 people in both full and part time positions globally, according to company filings.
News of the layoffs, first reported Wednesday, comes on the back of Qualcomm management's promise to shareholders that it would reduce spending by $1 billion in order to make up for declining sales.
Qualcomm made the promise as part of its effort to rebuff a $117 billion hostile takeover by Broadcom, its Singapore-based competitor.
The acquisition was ultimately cancelled after President Trump issued an executive order preventing Broadcom from buying Qualcomm on the grounds of national security.