Qualcomm plans a global workforce reduction after its annual employee reviews, with notifications beginning in November. CEO Cristiano Amon described the move in an internal memo as a performance-focused reduction intended to strengthen the company’s performance culture and address areas where expectations have not been met.
Qualcomm has not disclosed how many employees will be laid off. The company had approximately 52,000 employees as of September 2025.
The memo said decisions will consider employee performance, business priorities, organizational needs and employee skills. The layoffs come as Qualcomm contends with slower consumer electronics sales and shifts its focus toward new markets, including AI data centers.
Qualcomm’s stock has risen 1.5% in 2026, underperforming the broader semiconductor index.