Qualcomm to start performance-based layoffs worldwide after reviews

Qualcomm CEO Cristiano Amon told employees in an internal memo on Monday that the company will cut jobs globally in a performance-focused reduction following its annual employee reviews. Notifications are expected to begin in November. Reuters reviewed the memo. The company has not disclosed how many roles will be affected. Qualcomm employed approximately 52,000 people worldwide as of September 2025. Amon wrote that as the business has expanded, so have the competencies and skills required, and that Qualcomm must have the right people in the right roles so they can perform at their best and the company can continue to succeed. He said the move aims at a stronger performance culture after the company has consistently fallen short of expectations. Coverage states decisions will also reflect business priorities and needed skills. No disputes over these core points appear in the rated coverage. Fiscal third-quarter revenue fell 4% year-on-year to $9.95 billion for the period ended June 28, 2026, with adjusted EPS down 20% to $2.21; automotive revenue rose 61%. Shares had gained 1.5% in 2026 versus larger index advances and slipped about 1% in premarket Tuesday. The number of jobs affected remains undisclosed.