Qualcomm is axing approximately 1,258 positions in two of its California offices, Jake Piazza of CNBC reported, citing filings with the California Employment Development Department. This would represent about 2.5% of that workforce, according to its last annual financial filing. The job eliminations will be effective near December 13 in both San Diego and Santa Clara.
Confident Investing Starts Here:
- Quickly and easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks straight to you inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on QCOM:
- Qualcomm (NASDAQ:QCOM) Scales Down Workforce Amid Dwindling Demand
- Chip Sector Stocks Mostly Up despite New Chinese Regulation
- U.S. big chip makers are pushing back on Biden’s China limits, NY Times says
- Qualcomm price target lowered to $135 from $140 at Evercore ISI
- Analyst says ASML likely to cut EUV equipment shipment forecasts ‘significantly’