Qualcomm Announces Global Job Cuts to Pivot Toward AI
Qualcomm will implement global performance-focused layoffs starting in November to reduce costs and shift its business model toward the AI data-center market.
Cristiano Amon, CEO of Qualcomm, announced global job cuts starting in November following the company's annual employee reviews. In a memo to staff, Amon described the move as a performance-focused reduction intended to build a stronger performance culture and address areas where the company consistently fell short of expectations.
Qualcomm did not disclose the total number of affected positions, but Amon stated that cuts will be based on organizational needs, business priorities, and required skills. The layoffs occur as the company faces declining revenue from Apple products and a slump in consumer electronics sales.
The company is currently pivoting its business model to expand into the AI data-center market. Qualcomm expects the majority of its chip sales to originate from non-smartphone businesses by fiscal 2027.
