Jobs
Qualcomm Cutting Jobs In San Diego
Qualcomm is one of the San Diego area's largest private employers.
SAN DIEGO, CA – Qualcomm has started cutting jobs in San Diego. The layoffs are part of the San Diego-based company's previously announced plan to cut $1 billion in costs.
At this time, the number of employees being laid off and the impacted departments are unclear.
The company promised to deliver adjusted earnings of $6.75 to $7.50 per share in fiscal 2019, according to a report by Market Watch.
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The goal was set during its hostile takeover battle with chip rival Singapore-based Broadcom. In March, President Donald Trump issued an executive order blocking the proposed takeover, citing national security concerns.
Also see: Broadcom Withdraws Qualcomm Takeover Bid
Find out what's happening in San Diegofor free with the latest updates from Patch.
Qualcomm is one of the San Diego area's largest private employers. The family of co-founder Irwin Jacobs is one of the region's most generous philanthropists.
All morning we are observing massive traffic spikes on our #Qualcomm $qcom #Layoffs discussion board - https://t.co/QspJi4Zikt
— TheLayoff (@TheLayoff) April 18, 2018
City News Service contributed to this report.
Image via Justin Sullivan/Getty Images
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