How many jobs did Qualcomm cut in 2023?

This is the second major job cut of 2023 for Qualcomm: In May, the company laid off 415 San Diego workers and 84 from the Bay Area, the San Diego Union-Tribune reported. The job cuts come amid wider tech industry cutbacks this year, and shrinking revenues at the chipmaker, specifically.

Why did Qualcomm cut jobs in Q4?

Revenue from the sector grew 13% on the increasing use of computer chips in vehicles. San Diego-based Qualcomm forecast fourth-quarter sales below market expectations on Wednesday and said it would likely cut jobs as consumer spending on smartphones remained stubbornly weak amid slowing global economic growth.

Does Qualcomm expect a'material revenue' from Huawei?

On a conference call with investors, Chief Financial Officer Akash Palkhiwala said Qualcomm’s forecast for the rest of the year assumes no “material revenue” from Huawei. “As you are aware we have a 4G license for shipping into Huawei. We do not have a 5G license, and we are not assuming any material revenue going forward,” Palkhiwala said.