Qualcomm cuts 4,500 jobs, may spin off divisions
by from Techreport on (#F6YH)
Big changes are in store at Qualcomm. According to Reuters, the chipmaker announced that it will cut 4,500 full-time staff-approximately 15% of its workforce-as part of a profit warning it issued for the upcoming quarter. The cuts are part of an effort to reduce costs by around $1.4 billion and boost capital returns to shareholders.
Alongside the cost reductions, the company may also spin off its its chip business, retaining the more profitable patent licensing portion. In an interview with Reuters, Qualcomm president Derek Aberle ...