Qualcomm is making ready a brand new spherical of layoffs in response to a drop in smartphone shipments within the newest quarter.
Noticed by Ars Technica, Qualcomm says handset chip gross sales are down 25% year-over-year, resulting in internet revenue being down 52%. Because of this, the corporate expects to undergo one other spherical of layoffs.
“Given the continued uncertainty within the macroeconomic and demand atmosphere, we count on to take further restructuring actions” an organization submitting says. “Whereas we’re within the means of growing our plans, we at present count on these actions to consist largely of workforce reductions, and in reference to any such actions we’d count on to incur vital further restructuring costs, a considerable portion of which we count on to incur within the fourth quarter of fiscal 2023. We at present anticipate these further actions to be considerably accomplished within the first half of fiscal 2024.”
As Ars highlights, Qualcomm already laid off 415 workers earlier this yr. The corporate offered no additional particulars on what number of workers shall be impacted by the upcoming spherical of layoffs.