Qualcomm layoffs begin in business restructuring push

The logo of Qualcomm is seen during the Mobile World Congress in Barcelona

As of September 24, 2017, San Diego-based Qualcomm employed close to 34,000 employees worldwide, including full-time, part-time, and temporary staff.

Employees who have lost their job will be given severance packages, which would help help sustaining in the jobless period.

"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", Qualcomm said in the statement.

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The company revealed the size of the layoffs when it filed Worker Adjustment and Re-Training Act notices, as required by law.

In a bid to reduce its spending by $1 billion, to fulfill a promise made to shareholders by management, Qualcomm is reportedly laying off as many as 1,000 employees.

The bulk of the layoffs will take place in California, where Qualcomm's headquarters are located while other job cuts are going to be taking place in other parts of the globe.

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The company pledged to cut costs earlier this year as part of its effort to fend off a hostile takeover attempt from chip rival

The deal was called off after Trump issued an executive order preventing Broadcom from buying Qualcomm on the grounds of national security. The problems began when Federal Trade Commission in the U.S received a complaint citing that Qualcomm was forcing Apple to use its chips at higher royalties. Qualcomm has other major locations in the state and around the world.

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