Today: 7 October 2025
30 April 2023
1 min read

Chip giant Qualcomm begins layoffs

The reports came as Qualcomm struggles to close its purchase of NXP while concurrently meeting its goal to cut costs by $1 billion…reports Asian Lite News

Global chip-maker Qualcomm has started layoffs, impacting both full-time and temporary employees, as “workforce reduction is needed to support long-term growth and success”.

According to reports, Qualcomm may eliminate 1,500 jobs in California alone.

The reports came as Qualcomm struggles to close its purchase of NXP while concurrently meeting its goal to cut costs by $1 billion, reports Fierce Wireless.

“As part of the cost reduction plan announced in January, Qualcomm is conducting a reduction of our full-time and temporary workforce. A workforce reduction, such as this one, affects not only those employees who are part of the reduction, but their families, co-workers and the community,” the chip giant said in a statement.

The company offered affected employees supportive severance packages to reduce the impact of the transition on them.

“We first evaluated non-headcount expense reductions, but we concluded that a workforce reduction is needed to support long-term growth and success, which will ultimately benefit all our stakeholders,” the company added.

Earlier this month, Qualcomm said that at the request of the Ministry of Commerce in China, it refiled its application to acquire NXP.

In conjunction with the refiling, NXP and Qualcomm agreed, among other things, to extend the end date of their purchase agreement from April 25, 2018 to July 25, 2018.

China is the only country that hasn’t signed off on Qualcomm’s purchase of NXP.

Qualcomm had walked away from a $44 billion deal to buy NXP Semiconductors after failing to secure Chinese regulatory approval.

Meanwhile, South Korea’s Supreme Court this month finalised a ruling in favour of the national antitrust regulator’s record fine of 1 trillion won ($760.8 million) imposed in 2016 on US chipmaker Qualcomm for unfair business practices.

The fine was imposed by the Fair Trade Commission (FTC), which concluded in December 2016 that the San Diego-based company and its two affiliates breached South Korea’s competition law by refusing to offer licenses to chipset manufacturers and demanding high fees for patents used by smartphone makers.

ALSO READ: Zuckerberg’s net worth surges over $10 bn

Previous Story

David’s late blitz rescues Mumbai Indians

Next Story

Rising tide of interest in doing business with India

Latest from Asia News

OCTOBER 7: Stop the Violence Now, Says Guterres

Guterres recalled that “the attackers brutally killed more than 1,250 Israelis and foreign nationals….reports Asian Lite News UN Secretary-General Antonio Guterres urged an immediate halt to the violence in Gaza, Israel, and

Hamas Heads to Egypt for Gaza Talks

The negotiation will focus on the details of enacting the first phase of the plan…reports Asian Lite News A delegation from the Palestinian group Hamas arrived in Egypt on Sunday ahead of

GAZA: Egypt to Host Peace Talks

Egypt hopes the discussions will help “end the war and the suffering of the brotherly Palestinian people, which has continued for two consecutive years…reports Asian Lite News Egypt will host Israeli and

70 Killed in Gaza Strikes

Gaza City, which has been at the heart of Israel’s military campaign, saw the highest number of casualties….reports Asian Lite News At least 70 Palestinians, including seven children aged between two months

UN Reactivates Sanctions on Iran

Iran President Masoud Pezeshkian insisted last week that the country had no intention of developing nuclear weapons….reports Asian Lite News The United Nations has confirmed the reactivation of sanctions against Iran. “Pursuant
Go toTop

Don't Miss

Tata takes back Air India

Under the deal now, Tata Sons will acquire Air India,

LG teams up with Apple

LG recently held a special promotion for iPhones, iPads and