Qualcomm To Reportedly Conduct Global Layoffs In Performance-Driven Overhaul

• Qualcomm CEO Cristiano Amon announced the worldwide job cuts in an internal memo, with individual notifications scheduled to begin in November. 
• Although the exact magnitude of the layoffs has not been disclosed, the firm reported a global headcount of approximately 52,000 employees as of last September. 
• The downsizing coincides with ongoing consumer electronics slumps and a strategic corporate transition toward artificial intelligence data-center expansion. 

Qualcomm (QCOM) is preparing to downsize its global workforce through a performance-focused reduction strategy, Reuters reported on Monday.

In an internal company memo reviewed by Reuters on Monday, Chief Executive Officer Cristiano Amon informed staff that the upcoming personnel changes will follow after the completion of yearly employee performance evaluations.

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Amon stated that the workforce adjustments are designed to build a robust performance culture and directly address instances where teams have consistently missed targets. 

While the memo omitted specific figures regarding the total number of positions affected, public records indicate that Qualcomm maintained roughly 52,000 full-time global employees as of September of last year. Formal notifications regarding the cuts are slated to begin rolling out in November.

Market Headwinds 

Qualcomm is among the world's leading smartphone chipmakers and is facing significant headwinds lately from a broader demand slump driven by soaring memory component prices. 

Consequently, Qualcomm shares have experienced sluggish growth, rising just 1.5% in 2026, lagging significantly behind the broader S&P 500 and the Philadelphia Semiconductor Index (SOX).

Amon emphasized that the restructuring process will carefully weigh current business priorities, required organizational competencies, and individual skill sets. "As we have expanded the business, so have the competencies and skills we require," Amon noted in the internal communication. "We must have the right people in the right roles so they can perform at their best and the company can continue to succeed."

QCOM Stock: Retail View 

Retail sentiment on Stocktwits was ‘extremely bearish’ with ‘normal’ message volumes. 

QCOM stock has gained about 7% over the past 12 months. 

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