* . *
  • About
  • Advertise
  • Privacy & Policy
  • Contact
Sunday, May 11, 2025
Earth-News
  • Home
  • Business
  • Entertainment
    Free Flowin’ Fest brings entertainment to Pascagoula’s Beach Park – WLOX

    Experience the Excitement: Free Flowin’ Fest Lights Up Pascagoula’s Beach Park!

    ‘Experimental entertainment venue’ sets sights on Austin area – MySA

    ‘Experimental entertainment venue’ sets sights on Austin area – MySA

    Taylor Swift’s team calls subpoena in Blake Lively-Justin Baldoni case ‘tabloid clickbait’ – Yahoo

    Taylor Swift’s Team Slams Subpoena in Blake Lively-Justin Baldoni Case as ‘Tabloid Clickbait

    The Weeknd made the apocalypse sexy at his 2025 tour launch in Arizona – Yahoo

    The Weeknd Turns Up the Heat at His 2025 Tour Launch in Arizona!

    Flutter Entertainment eyes U.S. prediction markets amid growing interest – Sports Business Journal

    Flutter Entertainment Sets Its Sights on U.S. Prediction Markets as Interest Soars

    SXSW Rom-Com ‘I Really Love My Husband’ Acquired for U.S. Release – Variety

    Heartfelt Romance: ‘I Really Love My Husband’ Set to Captivate U.S. Audiences!

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    Officials announce massive project that could reshape electric vehicle technology: ‘This is exactly the type of investment that will help us grow the economy’ – Yahoo Finance

    Game-Changer Ahead: Major Investment Set to Transform Electric Vehicle Technology and Boost the Economy!

    Federal agents raid Dymeng Technology Solutions in St. Augustine – Action News Jax

    Federal Agents Storm Dymeng Technology Solutions in St. Augustine: What You Need to Know

    SoundHound’s Amelia 7.0 Platform Delivers Agentic AI With Category Leading Voice Technology – Business Wire

    Unleashing the Future: SoundHound’s Amelia 7.0 Revolutionizes Voice Technology with Agentic AI

    Comings and goings: MPT hires VP of technology, NPR announces changes to Business Desk – Current – For people in public media

    Exciting Leadership Changes: MPT Welcomes New VP of Technology and NPR Revamps Business Desk!

    Harnessing emerging technologies to power a small business – The Oaklandside

    Unlocking Success: How Emerging Technologies Can Transform Your Small Business

    Artificial intelligence (AI) – The Guardian

    Unlocking the Future: How Artificial Intelligence is Transforming Our World

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
  • Home
  • Business
  • Entertainment
    Free Flowin’ Fest brings entertainment to Pascagoula’s Beach Park – WLOX

    Experience the Excitement: Free Flowin’ Fest Lights Up Pascagoula’s Beach Park!

    ‘Experimental entertainment venue’ sets sights on Austin area – MySA

    ‘Experimental entertainment venue’ sets sights on Austin area – MySA

    Taylor Swift’s team calls subpoena in Blake Lively-Justin Baldoni case ‘tabloid clickbait’ – Yahoo

    Taylor Swift’s Team Slams Subpoena in Blake Lively-Justin Baldoni Case as ‘Tabloid Clickbait

    The Weeknd made the apocalypse sexy at his 2025 tour launch in Arizona – Yahoo

    The Weeknd Turns Up the Heat at His 2025 Tour Launch in Arizona!

    Flutter Entertainment eyes U.S. prediction markets amid growing interest – Sports Business Journal

    Flutter Entertainment Sets Its Sights on U.S. Prediction Markets as Interest Soars

    SXSW Rom-Com ‘I Really Love My Husband’ Acquired for U.S. Release – Variety

    Heartfelt Romance: ‘I Really Love My Husband’ Set to Captivate U.S. Audiences!

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    Officials announce massive project that could reshape electric vehicle technology: ‘This is exactly the type of investment that will help us grow the economy’ – Yahoo Finance

    Game-Changer Ahead: Major Investment Set to Transform Electric Vehicle Technology and Boost the Economy!

    Federal agents raid Dymeng Technology Solutions in St. Augustine – Action News Jax

    Federal Agents Storm Dymeng Technology Solutions in St. Augustine: What You Need to Know

    SoundHound’s Amelia 7.0 Platform Delivers Agentic AI With Category Leading Voice Technology – Business Wire

    Unleashing the Future: SoundHound’s Amelia 7.0 Revolutionizes Voice Technology with Agentic AI

    Comings and goings: MPT hires VP of technology, NPR announces changes to Business Desk – Current – For people in public media

    Exciting Leadership Changes: MPT Welcomes New VP of Technology and NPR Revamps Business Desk!

    Harnessing emerging technologies to power a small business – The Oaklandside

    Unlocking Success: How Emerging Technologies Can Transform Your Small Business

    Artificial intelligence (AI) – The Guardian

    Unlocking the Future: How Artificial Intelligence is Transforming Our World

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
Earth-News
No Result
View All Result
Home Technology

Qualcomm Shanghai Company Is Reported to Face Massive Layoffs

September 22, 2023
in Technology
Qualcomm Shanghai Company Is Reported to Face Massive Layoffs
Share on FacebookShare on Twitter

Starting from this week, there have been rumors circulating on major social platforms about the upcoming large-scale layoffs at Qualcomm Shanghai. It is reported that this round of layoffs will mainly focus on the wireless business research and development department. The compensation standards are N+4 for regular employees (including newly hired employees) and N+7 for senior employees without a fixed term, with no cap limit of three times.

Although the compensation standard is higher than the industry average, as of the time of writing, Qualcomm has not provided an official response to this layoff news. Public information shows that Qualcomm China has research and development centers in both Beijing and Shanghai.

In recent years, the sluggish trend in the smartphone market and the impact from competitors have had a significant effect on companies in the supply chain such as Qualcomm. Cost reduction and efficiency improvement are also becoming mainstream measures for global technology companies.

According to global smartphone shipment forecast data from the third-party organization Counterpoint, it is projected that global smartphone shipments will decline by 6% in 2023, reaching a record low of 1.15 billion units. The replacement cycle for smartphones has extended from one or two years in the past to over three years currently, reaching an unprecedented level.

At the same time, Qualcomm is facing a long-term challenge from MediaTek in the mobile phone market. In the past three years, MediaTek has maintained its leading position in global shipments of mobile phone SoCs (System on Chips), continuously squeezing Qualcomm’s market share along with Apple.

On the other hand, nearly 60% of Qualcomm’s mobile chip revenue comes from the Chinese market. With the relaunch of Huawei’s Kirin chips at the end of August, Ming-Chi Kuo, a well-known analyst at TF International, stated that Qualcomm will ultimately lose Huawei’s smartphone orders as a result. According to his data, in just one year in 2022, Huawei purchased approximately 23-25 million SoCs from Qualcomm.

In the latest quarterly financial report, the revenue of Qualcomm’s mobile chip business (attributed to the QCT division) was $5.26 billion, a year-on-year decrease of 25%, which has directly impacted Qualcomm’s revenue performance significantly.

Under the influence of these external negative factors, Qualcomm has started layoffs globally since the end of last year.From December 2022 to March this year, 232 employees at Qualcomm’s headquarters in California, USA were laid off. In May, Qualcomm announced a global layoff of 5%, mainly focused on the mobile division.

In June of this year, Qualcomm announced that it will continue to lay off 415 employees at its headquarters in San Diego, California, with the majority of them being engineers. In August, Taiwanese media predicted that Qualcomm would lay off 200 people in Taiwan, covering areas such as product and testing.

SEE ALSO: OPPO Watch 3 to Come With Qualcomm W5 Wearable Platform

Qualcomm’s Chief Financial Officer, Akash Palkhiwala, has publicly stated that the cost-cutting measures of the company are expected to continue into the next fiscal year. In addition to the cost reduction efforts being undertaken by major technology companies, Qualcomm’s excessive hiring during the pandemic is also a significant reason for its ongoing layoffs this year.

Qualcomm’s financial report for the third quarter of fiscal year 2023 shows a significant decline in data. The total revenue is $8.451 billion, a decrease of 23% compared to the same period last year. The net profit is $1.803 billion, a decrease of 52% compared to the same period last year.

Qualcomm CEO Cristiano Amon explicitly stated during an analyst conference that Qualcomm will further reduce costs through measures such as layoffs.

According to public data, Qualcomm’s expenses for restructuring in the previous quarter amounted to $285 million, which includes a significant proportion of employee severance costs. Qualcomm expects this expense to increase further in the fourth quarter.

However, in early September, Qualcomm just announced a chip supply agreement with Apple to provide Snapdragon 5G modems and RF systems for their smartphones launching from 2024 to 2026. This three-year order is the biggest positive news for Qualcomm in recent times, but it also means that Apple has delayed the development and launch progress of its self-developed products.

In addition, Qualcomm is also taking proactive measures to clear inventory and improve the company’s financial performance. Recently, Qualcomm announced a 10%-20% price reduction on its low-end 5G smartphone chips to increase customer purchasing willingness and accelerate inventory clearance speed.

Sign up today for 5 free articles monthly!

Pandaily Substack subscribe

>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : Pandaily – https://pandaily.com/qualcomm-shanghai-company-is-reported-to-face-massive-layoffs/

Tags: QualcommShanghaitechnology
Previous Post

BYD Launched the U8 Premium Edition Under Its High-End Sub-Brand Yangwang

Next Post

Huawei Denies Signing Mobile Procurement Agreements with Multiple Governments

Two decades of bacterial ecology and evolution in a freshwater lake – Nature

Two decades of bacterial ecology and evolution in a freshwater lake – Nature

May 11, 2025
NIH guts its first and largest study centered on women – Science | AAAS

Groundbreaking Women’s Health Study Faces Major Cuts: What It Means for the Future

May 11, 2025
Eggs are less likely to crack when dropped on their side, according to science – NBC News

Science Reveals: Dropping Eggs on Their Side Reduces Cracking Risk!

May 11, 2025
A letter to Mom: I am more like you than you think – Lifestyle.INQ

A letter to Mom: I am more like you than you think – Lifestyle.INQ

May 11, 2025
Zara: Inside the secretive world of the fashion brand – BBC

Unveiling Zara: A Deep Dive into the Enigmatic Fashion Empire

May 11, 2025
Trump’s team is finally meeting with China. The future of the global economy is riding on its success – CNN

Trump’s Team Engages with China: A Pivotal Moment for the Global Economy

May 11, 2025
Free Flowin’ Fest brings entertainment to Pascagoula’s Beach Park – WLOX

Experience the Excitement: Free Flowin’ Fest Lights Up Pascagoula’s Beach Park!

May 11, 2025
Local health system eliminates pay differential for nurses during National Nurses Week – NBC 5 Chicago

Local Health System Celebrates National Nurses Week by Equalizing Pay for Nurses!

May 11, 2025
Lehigh County pension fund halts buying Tesla stock because of performance, politics – LehighValleyNews.com

Lehigh County Pension Fund Stops Investing in Tesla: A Shift Driven by Performance and Politics

May 11, 2025
Officials announce massive project that could reshape electric vehicle technology: ‘This is exactly the type of investment that will help us grow the economy’ – Yahoo Finance

Game-Changer Ahead: Major Investment Set to Transform Electric Vehicle Technology and Boost the Economy!

May 11, 2025

Categories

Archives

May 2025
MTWTFSS
 1234
567891011
12131415161718
19202122232425
262728293031 
« Apr    
Earth-News.info

The Earth News is an independent English-language daily published Website from all around the World News

Browse by Category

  • Business (20,132)
  • Ecology (600)
  • Economy (612)
  • Entertainment (21,525)
  • General (15,211)
  • Health (9,654)
  • Lifestyle (617)
  • News (22,149)
  • People (615)
  • Politics (619)
  • Science (15,834)
  • Sports (21,122)
  • Technology (15,602)
  • World (602)

Recent News

Two decades of bacterial ecology and evolution in a freshwater lake – Nature

Two decades of bacterial ecology and evolution in a freshwater lake – Nature

May 11, 2025
NIH guts its first and largest study centered on women – Science | AAAS

Groundbreaking Women’s Health Study Faces Major Cuts: What It Means for the Future

May 11, 2025
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

Go to mobile version