Technology
Qualcomm announces global job cuts amid smartphone slump
The Hindu1h
THE BRIEF
1
Qualcomm announced global job cuts, framing the layoffs as a performance-focused reduction driven by evolving business needs as it expands into new domains.
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The primary external trigger is a sharp downturn in global smartphone sales, with shipments dropping 20% year-over-year in Q3 2026 due to soaring memory chip prices.
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Smartphones remain Qualcomm's largest revenue driver at 51%, leaving the company vulnerable to market contractions as diversification efforts into automotive and PC chips take time.