Layoffs Underway at Qualcomm

Qualcomm Inc. has started to cut jobs at its San Diego facility, the San Diego Business Journal reported Wednesday.The move is part of the company’s promise to investors to cut costs by $1 billion.  The Shoppes at Carlsbad Get 6 New Tenants A complete number of layoffs hasn’t yet been confirmed, but reports say the number is large enough to merit the company filing a WARN notice (Worker Adjustment and Retraining Notification) with the state of California. According to the U.S. Department of Labor Employment and Training Administration, a WARN notice must be given by the employer, “if there is to be a mass layoff which does not result from a plant closing, but which will result in an employment loss at the employment site during any 30-day period for 500 or more employees.”  Saffron Thai Expands to La Jolla “As part of the cost reduction plan announced in January, Qualcomm is conducting a reduction of our full-time and temporary workforce,” a company spokesperson said. “A workforce reduction, such as this one, affects not only those employees who are part of the reduction, but their families, co-workers and the community. We recognize this and have offered affected employees supportive severance packages to reduce the impact of this transition on them.” The spokesperson said the company evaluated other ways to reduce costs first, but ultimately decided layoffs were necessary “to support long-term growth and success.”  City of San Diego Cleans Up San Diego Riverbed Qualcomm was under pressure to improve its earnings to fend off the now-defunct hostile takeover bid by Broadcom Inc. when it announced the cost-reduction plan earlier this year. In 2015, Qualcomm underwent mass layoffs in a restructuring phase that resulted in thousands of jobs lost. Qualcomm employs 13,000 people locally and is headquartered in Sorrento Mesa. This story uses functionality that may not work in our app. Click here to open the story in your web browser.
Source: NBC San Diego