SAN DIEGO (NEWS 8) - Another round of layoffs is coming for employees at Qualcomm, including some in San Diego.
The mobile chip technology company has confirmed it is cutting 269 jobs, 125 of those in San Diego.
The layoffs are part of an ongoing effort to save $1 billion in annual costs.
The San Diego area cuts involve Qualcomm’s Life division, which provides wireless connectivity systems for the medical industry, according to The San Diego Union Tribune. The technology company has been exploring the potential sale of a majority stake in Qualcomm Life, The Union Tribune reported in June 2018. The Raleigh job cuts involve the company’s data center engineer team, the report said.
The company had roughly 33,800 employees as of 2017.
Qualcomm’s revenues were $5.8 billion in Q4 of 2018, down 2 percent from $5.9 billion in Q4 of 2017, the company disclosed in November.
The company had a $500,000 net loss in Q4 of 2018, far larger than a $200,000 net loss in Q4 of 2017, the November earnings statement revealed.
Earlier this year the company began sending layoff notices to 1,231 of its San Diego employees and another 269 workers in Northern California.
At that time, the cost-cutting plan was part of an effort to prevent a hostile takeover by rival chip company Broadcom.
In 2015, the company laid off 1,315 San Diego employees in a major restructuring plan.
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