Global chip maker Qualcomm starts layoffs, so many employees will be removed to reduce costs.

Global chip maker Qualcomm has started laying off. All types of employees, permanent and temporary, have been affected in this. The company has said that workforce reduction is the need of the hour for long-term growth and success. According to reports, Qualcomm may eliminate 1,500 jobs in California alone. According to Fierce Wireless’ report, Qualcomm struggled with the purchase of NXP, as well as being unable to meet its goal of cutting costs by $1 billion. That is, the company is going to do this layoff to cut down on its expenses.

Employees to be fired will get relief package

As part of a cost-cutting plan announced in January, Qualcomm is reducing the number of full-time and temporary employees, the chip maker said in a statement. The reduction in the workforce in this way not only affects the employees who are part of the reduction, but also their families, co-workers and the community. The company has offered a package to the affected employees to mitigate its impact.

Reduction in workforce

“We first evaluated cutting non-personal expenses, but we concluded that workforce reduction is needed to support long-term growth and success, which will ultimately benefit all of our stakeholders,” the company said. Earlier this month, Qualcomm said that at the request of the Ministry of Commerce in China, it has reapplied to acquire NXP. China is the only country that has not signed off on Qualcomm’s purchase of NXP. Qualcomm had pulled out of a $44 billion deal to buy NXP Semiconductors after it failed to obtain Chinese regulatory approval.