The tech publication gigaom.com is reporting that Qualcomm has been trimming its ranks. Several executives at the vice-president level have been severed and others demoted, reports the publication.
At one division, there have been nearly 100 jobs cut, and there is a likelihood of further cuts. One source said that with 31,000 employees, Qualcomm has to make adjustments periodically.
The layoffs are consistent with recent statements of chief executive Paul Jacobs, who recently told securities analysts that the company will face some demand problems in 2014. Thus, Qualcomm has to "control expenses in order to deliver operating profit growth in excess of revenue growth."
This morning (Nov.22), the company had no comment.