Qualcomm slashes 1,500 jobs in California, and its NXP bid faces objections in China

Qualcomm Inc. is slashing at least 1,500 jobs in California, trying to cut costs, at the same time its $44-billion bid to acquire NXP Semiconductors is running into problems getting antitrust clearance from China.

The San Diego company, a leading provider of chips for mobile phones, said the layoffs included permanent and temporary workers.

The company — which employs 33,800 people worldwide, including about 13,000 in San Diego — has said it is looking to cut about $1 billion from its operating expenses to help boost earnings. It began notifying employees of the layoffs Wednesday. On Thursday, it revealed through a government-mandated notice that it is laying off 1,231 workers in San Diego and 269 in the Santa Clara and San Jose area.

View Article