Qualcomm layoffs begin in India: More than 1,000 employees likely impacted
One extra month's salary added to severance package if layoff papers signed quickly, a person claiming to be a laid-off Qualcomm employee posted online
The US-based semiconductor firm is executing performance-focused job cuts under CEO Cristiano Amon following a notable slump in handset revenue and under-par profits. While official figures are pending, affected Indian employees are reportedly receiving layoff notices along with severance packages offering three months of salary plus additional compensation for their tenure.
The US-based semiconductor firm is executing performance-focused job cuts under CEO Cristiano Amon following a notable slump in handset revenue and under-par profits. While official figures are pending, affected Indian employees are reportedly receiving layoff notices along with severance packages offering three months of salary plus additional compensation for their tenure.
The US-based semiconductor firm is executing performance-focused job cuts under CEO Cristiano Amon following a notable slump in handset revenue and under-par profits. While official figures are pending, affected Indian employees are reportedly receiving layoff notices along with severance packages offering three months of salary plus additional compensation for their tenure.
Global mobile-chip giant Qualcomm’s recent workforce restructuring has reached India, with Bengaluru the first location to be impacted one day after Diwali. Ground reports from Moneycontrol, Mint, and ET, quoting people familiar with the developments, put the number of affected employees at 1,000.
Apart from Bengaluru, Qualcomm has operations in Hyderabad, Chennai, and Delhi NCR. While Qualcomm has yet to officially put a number on its layoffs in the country, it is expected to reach the other locations. Currently, the first round of layoffs is focused on senior engineers and similar employees with many years of experience working for Qualcomm.
The US-based semiconductor firm, last month, has announced "performance-focused" workforce reductions under CEO Cristiano Amon. Many Indian workers have reportedly already received notices of layoffs. Qualcomm's crisis—if we can call it that—also extends to its US operations. The company is reportedly set to file layoff notices in California in the coming days under the state's Worker Adjustment and Retraining Notification (WARN) Act, according to Investing.com.
Qualcomm has yet to officially comment on the job cuts.
How much severance will India employees get in Qualcomm layoffs?
While Qualcomm has yet to provide an official number on this, certain posts on platforms such as Reddit from accounts claiming to be employees let go from the semiconductor giant point to three months of salary plus an additional month for each year served at the company. One post even claimed that Qualcomm offered an extra month's worth of salary if the employees signed the layoff papers within the next couple of days.
Layoffs or not, Qualcomm and similar chip companies seem to be facing the wrath of banding themselves to the AI bandwagon while hiking consumer-end product prices. Qualcomm saw its handset revenue slump 25 per cent last quarter. It also now sees under-par profit and a revenue slump from Apple products, going forward.