Qualcomm Prepares for Layoffs

Employee layoffs across the technology sector continue, and chipmaker Qualcomm is reportedly preparing to reduce its workforce. According to the information provided, the company is expected to send notifications to affected employees in November. Qualcomm CEO Cristiano Amon reportedly said the decision followed a review of employee performance. The stated objective is to strengthen the company’s performance-driven culture and address situations where employees have consistently failed to meet expectations. However, the company has not officially disclosed how many employees may be affected.

Amon also reportedly explained that as Qualcomm’s business expands, the skills and expertise it requires are changing. Assigning the right responsibilities to people with suitable skills and experience is important for improving employee performance and supporting the company’s growth, he said. The final decisions may depend on business requirements, future plans, and employees’ skills and experience. As of September last year, Qualcomm reportedly had approximately 52,000 employees worldwide, but the scale of the proposed workforce reduction remains unclear.

Qualcomm is one of the world’s leading smartphone chipmakers, but slowing consumer electronics sales and rising memory chip prices are creating challenges for the market. Higher memory costs can increase smartphone manufacturing expenses, potentially pushing up retail prices or prompting consumers to delay purchases. These trends could affect demand for smartphone processors. According to the figures cited in the report, Qualcomm shares have risen by around 1.5% so far in 2026, compared with a gain of more than 12% for the S&P 500 and nearly 60% for the Philadelphia Semiconductor Index, Reuters reported.