Qualcomm To Layoff 226 Employees, Amidst A Potential Intel Takeover
As per Bloomberg sources, Qualcomm has approached Intel, although details about the potential acquisition are unknown
Qualcomm plans to let off 226 employees in San Diego later this year, according to a California WARN notice. Layoffs are likely to begin in the week of 12 November, affecting 16 facilities throughout the city, including the company's headquarters. This declaration follows a prior employment decrease of more than 1,250 people less than a year ago. The business has not yet specified which divisions will be affected by the fresh job losses.
The layoffs are consistent with Qualcomm's efforts to reorganise resources as part of a larger strategy shift, while reporting USD 35.8 billion in revenue in 2023. As the technology environment changes, the company's focus has shifted to capitalising on opportunities in a variety of areas, including AI-powered PCs and other technologies. Qualcomm's ARM-based Snapdragon X Elite SoCs have gained popularity in the laptop industry, and CEO Cristiano Amon has hinted at cheaper variants that might start at USD 700 to expand market share.
Amid these changes, Qualcomm is considering a purchase of Intel Corp, which may result in one of the greatest mergers in tech history. According to Bloomberg sources, Qualcomm has approached Intel, although details about the potential acquisition are unknown. If the merger is successful, it will fundamentally change the semiconductor business, with Qualcomm potentially expanding into other technology categories such as AI and PC hardware.
Qualcomm's continued efforts to reposition itself in emerging countries coincide with a period of strategic re-evaluation, which includes layoffs and a focus on extending its presence in the laptop market. Qualcomm's Snapdragon X Elite SoCs are already popular among manufacturers, and the development of more cheap laptops is part of Qualcomm's strategy to take a larger piece of this market. Meanwhile, Qualcomm's potential acquisition of Intel might strengthen its position in critical fields such as AI and PC hardware, amidst industry competition.
