Qualcomm plans to lay off workers across the globe. CEO Cristiano Amon told staff in an internal memo that employees will be told starting in November 2026.
Amon said the cuts follow the company's yearly employee reviews. Reuters reported that the goal is to build a stronger performance culture and deal with workers who have often missed expectations. Qualcomm has not said how many jobs will go. It has also not named the teams or places that will be hit.
Amon said Qualcomm must match its workforce to its changing business needs. The company will look at each person's skills, experience, and role. He also said Qualcomm has grown, and the skills it needs today are different. In his view, the right people must be in the right jobs for the company to grow.
About 52,000 people worked at Qualcomm in September 2025. Most of them were full-time staff.
Qualcomm is one of the world's top phone chipmakers, but that market is under strain. Memory prices have gone up, and demand for gadgets has softened. This has hurt phone makers and the firms that supply them.
In July 2026, the company gave a profit forecast for the quarter that fell short of analyst hopes. It also said sales tied to Apple would drop faster than it first thought.
Its stock has lagged, too. Reuters said the shares rose about 1.5% this year. The S&P 500 gained over 12%, and the Philadelphia Semiconductor Index rose nearly 60%.
The company is now looking beyond phones. It is pushing into chips for AI data centers and other new areas. Qualcomm expects these non-phone lines to bring in most of its chip sales in fiscal 2027. It believes this growth can make up for the loss of Apple-linked revenue by then.
The size of the layoffs is still unknown. Staff will learn more when notices begin in November. For now, Qualcomm is betting that a leaner, better-matched team can help it grow in areas beyond smartphones.