Qualcomm has begun axing employees in an attempt to cut annual operating costs by up to $1 billion.
As reported by Reuters, a spokesperson for the US chipmaker said on Wednesday that “Qualcomm is conducting a reduction of our full-time and temporary workforce.”
However, the company would not disclose how many employees will be affected.
According to the spokesperson, cost-cutting options were first explored in areas which did not require letting employees go. However, Qualcomm eventually came to the conclusion that long-term growth required a reduction in the workforce.
As of September 24,…
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