Qualcomm (NASDAQ: QCOM) Plans Global "Performance-Focused" Layoffs Beginning In November As Smartphone Revenue Slides

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  "company": {
    "name": "Qualcomm",
    "domain": "qualcomm.com"
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    "url": "https://www.foreignpolicyjournal.com/2026/10/24/qualcomm-nasdaq-qcom-plans-global-performance-focused-layoffs-beginning-in-november-as-smartphone-revenue-slides/",
    "title": "Qualcomm (NASDAQ: QCOM) Plans Global \"Performance-Focused\" Layoffs Beginning In November As Smartphone Revenue Slides - Foreign Policy Journal",
    "ticker": "NASDAQ:QCOM",
    "excerpt": "Qualcomm (NASDAQ: QCOM) is preparing a new round of global job cuts, with CEO Cristiano Amon telling employees that notifications are expected to begin in November. Amon described the reductions as “performance-focused,” tied to annual employee reviews and a broader push toward what he called a “stronger performance culture.” In an internal memo, Amon said the company has “consistently fallen short of expectations,” signaling that the cuts are aimed at restructuring talent across the organization. The memo outlined that business priorities, organizational needs, skills, and expertise would all factor into decisions about which roles would be affected. “As we have expanded the business, so have the competencies and skills we require,” Amon wrote, adding, “We must have the right people in the right roles so they can perform at their best and the company can continue to succeed.” The memo did not specify how many positions would be eliminated, and Qualcomm did not immediately respond to a request for comment on the matter. As of September 2025, Qualcomm employed approximately 52,000 people globally, giving the potential scale of the reductions significant weight. The layoff announcement comes against a difficult financial backdrop, with the company reporting $9.9 billion in revenue for the third quarter of fiscal 2026, a 4% decline year-over-year. Handset revenue, still the...",
    "summary": "Qualcomm reported $9.9 billion in revenue for the third quarter of fiscal 2026, marking a 4% decline year-over-year.",
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    "published_at": "2026-10-24T17:55:00Z",
    "article_sentence": "The layoff announcement comes against a difficult financial backdrop, with the company reporting $9.9 billion in revenue for the third quarter of fiscal 2026, a 4% decline year-over-year.",
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