Qualcomm Cuts Hundreds of Jobs in San Diego

In a significant move affecting its San Diego operations, Qualcomm is set to lay off hundreds of employees as part of a broader effort to streamline its business. The semiconductor giant, headquartered in San Diego, confirmed that 226 employees would be let go, starting in mid-November 2024. This announcement, made under California's Worker Adjustment and Retraining Notification (WARN) Act, underscores the shifting landscape for tech companies grappling with market challenges.

The layoffs reflect Qualcomm’s decision to realign its resources amid a changing business environment. While the company remains a major player in the smartphone chip market, it has faced slowing demand for mobile devices, which has impacted its core business. The restructuring aims to position Qualcomm for new growth opportunities, including expansion into emerging markets like automotive chips and artificial intelligence.

This wave of layoffs is part of a wider trend across the tech industry, where companies like Microsoft and Meta have also downsized in response to broader economic pressures. In fact, the global tech industry saw over 260,000 job cuts in 2023 alone, a sharp increase from previous years. For Qualcomm, this marks a critical moment as the company navigates both competitive pressures and the evolving demands of the semiconductor industry.