From BigGo Finance · BigGo Finance · · 1m 20s
Qualcomm Global Layoffs Start November
Qualcomm begins global layoffs in November after annual review, targeting handset revenue decline.
In brief
Qualcomm begins global layoffs in November after annual review, targeting handset revenue decline. Qualcomm will notify affected employees starting November 2026 to address declining smartphone revenue after Apple sales dropped 20%. Originally reported by BigGo Finance.
Qualcomm Launches Global Layoffs
Qualcomm has launched global layoffs following its annual performance review.
Notifications Begin November
Affected staff will be notified starting in November 2026.
Employee Count
Qualcomm had approximately 52,000 employees worldwide as of last September.
Weak Consumer Demand
Qualcomm faces weak consumer electronics demand and surging memory prices.
Stock Underperformance
Qualcomm stock up only 1.5% year to date vs S&P 500's 12% gain.
Apple Revenue Drop
Apple product revenue declined faster than previously estimated.
Data Center Strategy
Qualcomm expects data center growth to offset lost Apple revenue by fiscal 2027.
Fiscal 2026 Q3 Results
Handset chip revenue down 20% year over year to $5.1 billion.
AI Data Center Partnerships
Qualcomm signed multi-year data center agreements with Meta and Amazon.
Industry-Wide Decline
Global smartphone shipments fell 21% year over year in Q2 2026.
Automotive and Robotics
Qualcomm launched robotics center in Japan and automotive partnerships with Toyota.
What matters most
Qualcomm will notify affected employees starting November 2026 to address declining smartphone revenue after Apple sales dropped 20%.
