Outbreak of retrenchment reached this chip making company, so many people will be employed

With the fear of slowing down of the economy intensifying, the pace of retrenchment has increased across the world. Now another big name is going to be added to the companies that show their employees the way out of the job. It is being told in the news that Qualcomm, a multinational company making chips, may announce layoffs in the coming days.

Can be announced next week

In a news of Business Today, sources have been told that the company may make an announcement related to layoffs on 3 May. Qualcomm is going to release its quarterly results on 3rd May. According to the news, along with the March Quarter Result, the chip manufacturer company can also make public the information about the layoffs of its employees.

Impact on the jobs of so many people

It is being told that Qualcomm can show the way out to 5 percent of its employees. Sources associated with the matter also claim that the mobile division is going to be hit the most by the proposed layoffs. In the mobile segment, the company can fire about 20 percent of the employees.

More layoffs in these companies

Tech companies around the world have been affected the most by the current adverse economic conditions. Sales of almost all tech companies have come down during the last few months and this has affected their revenue. This is the reason why tech companies all over the world are laying off employees on a large scale.

Problems are happening due to these reasons

Sources say that Qualcomm’s sales and revenue have been affected during the last few months. For this reason, the chip company is being forced to lay off. At the same time, another source says that Qualcomm is facing the most problems in the smartphone division. Qualcomm’s smartphone sales have seen a major decline in the last few quarters, due to which the company is adjusting its resources afresh.

Profit decreased so much in December

Let us tell you that during the December 2022 quarter, Qualcomm’s annual profit was reduced by 34 percent. At the same time, there was a decline of 12 per cent in the revenue of the company during the quarter under review. There is a possibility that even during the March quarter, Qualcomm’s profit and revenue may decrease.

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