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Layoffs possible at Qualcomm

Consistent with CEO's recent comments

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.

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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.

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Comments
10

Surely Qualcomm won't be trimming its recently-hired vice president Nathan Fletcher who failed to make the mayoral run-off as a "newly-hatched " Democrat after a lifetime in the GOP and a moment or two as an Independent?

Nov. 22, 2013

monaghan: Yes, I doubt that Fletcher's head is one on the chopping block. Best, Don Bauder

Nov. 22, 2013

Does Fletcher move left every election or does he just randomly choose a party each election? Will we see him move to Green Party next? Then Socialist after that. Or maybe he'll decide to move right to Peace and Freedom? I hear even the Whig Party is making a comeback - maybe Fletcher could be their candidate.

Nov. 22, 2013

ImJustABill: I think Fletcher's move to the Democratic Party was a reflection of his Qualcomm connection. Both the senior and junior Jacobs are Democrats. Best, Don Bauder

Nov. 22, 2013

So he follows the money. Even more blatantly than most politicians.

Nov. 23, 2013

ImJustABill: More blatantly? That's one way to put it. More overtly? Certainly. Best, Don Bauder

Nov. 23, 2013

I would wager that many Americans will lose their jobs, while H1-B's will remain. In fact, I would be surprised if they dismissed one H-1B.

Nov. 22, 2013

Ponzi: Young Jacobs has spent so much time lobbying for more H-1B visas that I believe you are right: the H-1Bs are safe. Best, Don Bauder

Nov. 22, 2013

So I assume this means since QCOM feels they have too many engineers they will let Congress know that they don't need any increases in H1-B Visa levels. Right?

Nov. 22, 2013

ImJustABill: Hardly. Qualcomm wants more poorly paid engineers. H-1B is the best route to that. Not only does the program provide low-paid foreign labor, it also serves to lower the wage level of American engineers. Best, Don Bauder

Nov. 22, 2013

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