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© filipefrazao84 dreamstime.com_ Business | July 23, 2015

Qualcomm talks job cuts and break-up

Chipmaker Qualcomm has initiated a strategic realignment plan which aims to improve execution, enhance financial performance and drive growth.
With the realignment plan Qualcomm aims to “aggressively right-size” the cost structure by eliminating approximately USD 1.4 billion in spending. This will be achieved via reductions in headcount – reducing roughly15% full-time employees – and temporary workforce, streamlining the engineering organization as well as reducing the number of offices and increasing the mix of resources in lower-cost regions.

The company will also review its corporate and financial structure. With the assistance of outside financial advisors, Qualcomm will conduct a review of its corporate structure – this includes possible business separation alternatives – capital return opportunities and other potential strategic and financial alternatives.

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