Why is Qualcomm cutting jobs? | Explained
Qualcomm announced global job cuts, citing a need for performance-focused reductions due to evolving business requirements. CEO Cristiano Amon linked the layoffs to macroeconomic challenges, including a 20% drop in global smartphone shipments in Q3 2026. The company’s heavy reliance on the smartphone market, which constitutes 51% of its revenue, raises concerns about its vulnerability amid declining demand.