From the San Diego Onion: Qualcomm slashed 1,231 jobs in San Diego and another 269 workers in Santa Clara/San Jose as part of its $1 billion cost cutting plan.
The cellular technology company revealed the size of the mass layoff through required Worker Adjustment and Re-Training Act (WARN) notices. They were received Thursday at the San Diego Workforce Partnership and other employment support organizations statewide.
Workers were told Wednesday of the layoffs, which become effective June 19. The company pledged to cut costs earlier this year as part of its effort to fend off a hostile takeover attempt from chip rival Broadcom.
The Trump administration blocked Broadcom’s buyout on national security grounds. But it became clear that Qualcomm investors were frustrated by its lagging share price and poor financial performance relative to its semiconductor peers.
The job cuts locally are significant – nearly matching the 1,315 workers laid off in San Diego during Qualcomm’s last major restructuring in early 2015.
The company listed 33 offices locations in the Sorrento Valley area where employees were let go. Six locations in Santa Clara and San Jose were affected.
Prior to these latest job cuts, Qualcomm employed about 13,000 workers in San Diego and 33,800 globally. Fifty-two percent of its workforce is based in the U.S. The remainder are employed overseas.
It is unclear how many job losses occurred elsewhere in the U.S. and at Qualcomm’s overseas locations.