Awesome deals, Galaxy Book 4 series, Watch 6, S24 Ultra or Z Flip 5! - Get 15% discount on Thinborne cases!

SamMobile has affiliate and sponsored partnerships. If you buy something through one of these links, we may earn a commission.

Notifications
    News for you

    Qualcomm lays off over 1200 employees as smartphone demand wanes

    Tech
    By 

    Last updated: October 17th, 2023 at 11:50 UTC+02:00

    Qualcomm is laying off 1,258 employees. The information was revealed in the filings the company recently made with the California Employment Development Department (via CNBC). Among 1,258 layoffs, 1,064 people are being terminated from Qualcomm’s office in San Diego and 194 people are being let go from that in Santa Clara. The company had around 51,000 employees in September 2022. So, a layoff of 1,258 employees accounts for 2.5% of the workforce.

    According to Qualcomm, it is laying off employees due to “uncertainty in the macroeconomic and demand environment”. However, Qualcomm isn’t the only chipmaking company that is reducing its workforce. Major semiconductor firms around the globe are laying off employees due to what is being reported as the sharpest downfall in the chip industry. Many technology-focused companies are also laying off employees due to lowering demand for consumer products and the ongoing economic downturn.

    Back in March, Samsung laid off around 3% of the workforce from the chipmaking division. A couple of months later, Apple terminated a substantial number of employees. Similarly, Amazon, Meta, Google, and Microsoft have also laid off a total of 70,000 personnel in recent times to cut operating costs and adjust to challenging economic times. More layoffs are expected to take place at big tech companies in the near future.

    Restructuring at Qualcomm

    When CNBC reached out to Qualcomm on the matter, the company said “Given the continued uncertainty in the macroeconomic and demand environment, we expect to take additional restructuring actions to enable continued investments in key growth and diversification opportunities. While we are in the process of developing our plans, we currently expect these actions to consist largely of workforce reductions, and in connection with any such actions we would expect to incur significant additional restructuring charges, a substantial portion of which we expect to incur in the fourth quarter of fiscal 2023. We currently anticipate these additional actions to be substantially completed in the first half of fiscal 2024”.

    Author’s Note: Huawei, which is currently one of the biggest customers of Qualcomm, has developed a new in-house chipset, the Kirin 9000s. The Chinese company is expected to develop more in-house chipsets in the near future. Going forward, Huawei is expected to use proprietary SoCs in its smartphones rather than the ones from Qualcomm.

    Samsung, too, is developing a new chipset, the Exynos 2400. The company plans to use this SoC instead of the Qualcomm Snapdragon 8 Gen 3 for the Galaxy S24, Galaxy S24+, and Galaxy S24 Ultra in many regions around the globe. So, the demand for chipsets from Qualcomm is expected to go down even further, making things even worse.

    Tech Qualcomm Buy now!

    You might also like

    Qualcomm showcases on-device AI running on phones, laptops, cars, and more

    Qualcomm showcases on-device AI running on phones, laptops, cars, and more

    Qualcomm showcased AI running natively on all kinds of devices at the ongoing MWC 2024 expo in Barcelona, Spain. It also displayed all the AI-related solutions it developed over the past year. It also showcased all the commercially available products that are using Qualcomm's solutions to offer AI features. Qualcomm AI Hub supports 75+ AI […]

    • By Asif Iqbal Shaik
    • 10 hours ago
    Qualcomm FastConnect 7900 brings AI-optimized proximity experiences

    Qualcomm FastConnect 7900 brings AI-optimized proximity experiences

    Qualcomm has introduced new connectivity chips at MWC 2024, including the FastConnect 7900, which is the first to integrate Bluetooth, Wi-Fi 7, and Ultra Wideband technologies on a single chip. This will enable devices powered by this chip to provide low latency, high-performance, and low-power connectivity. The new chip also leverages the power of artificial […]

    • By Adnan Farooqui
    • 11 hours ago
    Some Snapdragon 8 Gen 5 chips rumored to be made by Samsung

    Some Snapdragon 8 Gen 5 chips rumored to be made by Samsung

    Ever since Qualcomm abandoned Samsung Foundry for TSMC after the Snapdragon 8 Gen 1 fiasco, the company hasn't looked back. Three of its next-generation chips—Snapdragon 8+ Gen 1, Snapdragon 8 Gen 2, and Snapdragon 8 Gen 3—are made by TSMC. However, the company might come back to Samsung Foundry if rumors are to be believed. […]

    • By Asif Iqbal Shaik
    • 2 weeks ago
    Samsung may have received order from Qualcomm to make prototype 2nm chip

    Samsung may have received order from Qualcomm to make prototype 2nm chip

    Samsung Electronics and TSMC are competing to get clients for their 2nm chip fabrication processes. While Samsung didn't get clients other than its own System LSI business for its 3nm process, it is hoping to compete with TSMC in a better way with its 2nm process, and it may have received a potential client in […]

    • By Asif Iqbal Shaik
    • 2 weeks ago
    Snapdragon X Elite laptops arriving with next version of Windows in mid-2024

    Snapdragon X Elite laptops arriving with next version of Windows in mid-2024

    Qualcomm unveiled the Snapdragon X Elite, the company’s latest flagship chipset for Windows-powered PCs, in October 2023. Back then, Qualcomm said that manufacturers would launch products powered by this SoC in mid-2024. Now, the company has reiterated the timeline for the launch of PCs powered by the Snapdragon X Elite along with revealing some interesting […]

    • By Abid Iqbal Shaik
    • 3 weeks ago
    Galaxy Book with Snapdragon X Elite chip could launch later this year

    Galaxy Book with Snapdragon X Elite chip could launch later this year

    A few months ago, Qualcomm unveiled its most ambitious flagship processor for laptops, the Snapdragon X Elite. After the announcement, Samsung confirmed that it would launch a laptop featuring that chipset, but it didn't reveal when we can expect the laptop to be unveiled. Now, we may have more information about it. Galaxy Book 4 […]

    • By Asif Iqbal Shaik
    • 3 weeks ago