Qualcomm CEO announces global workforce cuts after annual reviews

Qualcomm will cut jobs across its global workforce following its annual employee reviews, with notifications expected to begin in November, according to an internal memo from CEO Cristiano Amon.

The planned layoffs are part of an effort to build “a stronger performance culture” and address situations where the company “has consistently fallen short of expectations,” Amon told employees in the memo dated Monday.

The company has not disclosed how many employees will be affected. Qualcomm had approximately 52,000 employees worldwide as of September 2025, most of whom were full-time staff.

Qualcomm to assess business priorities and workforce capabilities

Amon said the workforce reduction would take into account business priorities, organisational requirements, and the skills and expertise needed across the company.

“As we have expanded the business, so have the competencies and skills we require,” he wrote. “We must have the right people in the right roles so they can perform at their best and the company can continue to succeed.”

The move comes as the semiconductor company navigates changing demand in consumer electronics while pursuing growth opportunities beyond smartphone chips.

Qualcomm, one of the world’s largest smartphone chipmakers, has faced a slowdown in consumer electronics sales this year, with rising memory prices weighing on demand in key markets.

Chipmaker seeks growth beyond smartphones

Qualcomm is also working to diversify its revenue streams as it expands into areas including AI data centres and other non-handset businesses.

In its latest earnings report in July, the company forecast quarterly profit below market estimates and warned that revenue from Apple-related products would decline faster than previously expected.

However, Qualcomm indicated that growth in data centres and other non-handset businesses could more than offset the lost revenue by fiscal 2027. The company expects the majority of its chip sales to come from businesses outside smartphones in that financial year.

Its share performance has also lagged behind broader market and semiconductor benchmarks. According to media reports, Qualcomm shares had risen around 1.5% in 2026, compared with gains of more than 12% for the S&P 500 and nearly 60% for the Philadelphia Semiconductor Index.

The planned job cuts signal a workforce adjustment as Qualcomm seeks to align employee capabilities and organisational structures with its evolving business priorities and expansion into new technology markets.