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Qualcomm to lay off 15 percent of its workforce

Qualcomm to lay off 15 percent of its workforce

Qualcomm to lay off 15 percent of its workforce

Qualcomm to lay off 15 percent of its workforce

 

Qualcomm plans to lay off 15 percent of its workforce as part of a major company restructure which is aimed to improve the company's financial performance. 

Improvement in this regard is a must for Qualcomm, with it's quarterly revenue down 14 percent from last year and net income dropping 35 percent to $1.6 Billion. Qualcomm has also recently lowered it's earning forecast for this year, for the 3rd time this year, which is a clear indication that the company is performing well below what anyone expected. 

 

  Qualcomm to lay off 15 percent of its workforce  

 

Qualcomm is cutting its outlook on the chip side of the business, which is due to lower demand for high end smartphones. With the combined might of Apple and Samsung the Smartphone Market is a very difficult place for other too compete, which has a knock on affect for chip makers like Qualcomm.

 

You can join the discussion on Qualcomm Laying off 15% of their Workforce on the OC3D Forums.

 

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Most Recent Comments

23-07-2015, 15:44:52

NeverBackDown
They most have horrible financial people.. they have products in nearly every single phone/tablet in the world. They should have mass produced everything by now and by so much that they become cheap to produce(relative to fabricating).Quote
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