FILE PHOTO: A building on the Qualcomm campus is seen, as chip maker Broadcom Ltd announced an unsolicited bid to buy peer Qualcomm Inc for $103 billion, in San Diego, California, U.S. November 6, 2017. REUTERS/Mike Blake (Reuters) - Chipmaker Qualcomm Inc (QCOM.O) is cutting 1,500 jobs across multiple divisions at its offices in California, as part of its promise to investors to cut annual costs by $1 billion. The company, which has about 33,800 employees as of Sept.24, informed about its job cut plans in California in a regulatory notice that was filed with the state on April 18. Qualcomm said it plans to cut 1,231 jobs in its San Diego office and 269 from its San Jose and Santa Clara offices in the state. Though the company first considered cost reductions without layoffs, it concluded that job cuts are needed to support long-term growth and success, a Qualcomm spokesperson said on Wednesday. Qualcomm had in January said it would implement a series of targeted reductions across businesses, as part of its attempt to win over investors support against a hostile bid from rival Broadcom Inc (AVGO.O). The bid, however, was cancelled by the Trump administration on national security grounds. Reporting by Munsif Vengattil in Bengaluru; Editing by Arun Koyyur
Qualcomm is to cut 1,500 jobs in California as it looks to reduce costs by $1bn a year, with 1,231 to go in San Diego and 269 in San Jose and Santa Clara. The company said the cuts would be made through attrition rather than layoffs. However, the US government has since blocked Broadcom's bid on the grounds of national security.