Qualcomm to Cut Jobs Worldwide in Performance-Focused Layoffs, Memo Shows

Oct. 20 — Qualcomm plans to cut jobs worldwide following its annual employee reviews as part of a “performance-focused reduction,” CEO Cristiano Amon told staff in an internal memo on Monday. Notifications are scheduled to begin in November.

The planned layoffs are intended to strengthen the company’s performance culture and address cases in which employees have “consistently fallen short of expectations,” Amon said.

The memo did not specify how many positions would be eliminated, and could not immediately determine the scale of the cuts.

Qualcomm did not immediately respond to a request for comment. The company had approximately 52,000 employees worldwide as of September last year, most of whom worked full-time. Its financial year typically ends in late September.

One of the world’s largest smartphone chipmakers, Qualcomm has faced pressure this year from declining consumer electronics sales, as surging memory prices weigh on demand in key markets.

The company’s shares have risen just 1.5% in 2026, underperforming the S&P 500, which has gained more than 12%, and the Philadelphia Semiconductor Index, which has climbed nearly 60%.

Qualcomm shares were up more than 1% on Tuesday after trading down approximately 0.5% earlier in the session.

In its latest earnings report in late July, Qualcomm forecast quarterly profit below analysts’ expectations and warned that revenue from Apple products would decline faster than previously anticipated.

However, the company indicated that growth in data centers and other businesses outside its traditional handset market would more than offset the lost revenue by fiscal 2027.

Qualcomm expects most of its chip sales to come from businesses other than smartphones in fiscal 2027 as it expands into the rapidly growing AI data-center market.

Amon said the company would consider business priorities, organizational requirements, employee skills and expertise when determining which positions would be affected.

“As we have expanded the business, so have the competencies and skills we require,” he wrote. “We must have the right people in the right roles so they can perform at their best and the company can continue to succeed.”