Qualcomm will be engaging in job cuts across the globe from November onwards, as per reports on Tuesday. The job cuts will reportedly be based on the employees' performance, as per a memo from the chief executive officer to the staff on Monday, cited by Reuters.
It is as of yet, unclear how many jobs are set to be affected by this development.
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The chipmaker will execute these job cuts due to "a stronger performance culture" as well as "has consistently fallen short of expectations," according to CEO Cristiano Amon's memo.
The company employs up to 52,000 people globally as of September 2025, with a majroity oof them working full-time. The firm is seeing a downturn in its electronic product sales due to demand being affected by skyrocketing memory prices.
As per the memo, the firm would take business priorities, organizational needs, skills and expertise into consideration while executing these job cuts.
"As we have expanded the business, so have the competencies and skills we require," Amon said in the memo.
"We must have the right people in the right roles so they can perform at their best and the company can continue to succeed," he added.
In its July earnings report, Qualcomm projected quarterly profit below analyst estimates and warned that revenue from Apple-related business would decline more rapidly than previously expected. However, the company said growing contributions from its data centre, automotive and other non-handset segments are expected to more than compensate for the loss by fiscal 2027.
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Qualcomm also said it expects most of its chip revenue to come from businesses outside the smartphone market by fiscal 2027, reflecting its push into high-growth areas such as AI-powered data centres and other connected-device technologies.
Shares of Qualcomm delcined 1.16% in pre-market trade to $171.52 on the Nasdaq index.
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