Sep 22, 2023 08:07 PM

TECH

Qualcomm Mulling ‘Adjustments’ in China as Part of Global Layoff Plan

By Zhang Erchi and Ding Yi

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Qualcomm’s booth at an industry event in Beijing on Sept. 5. Photo: VCG

Qualcomm’s booth at an industry event in Beijing on Sept. 5. Photo: VCG

Qualcomm Inc. is mulling “adjustment measures” in China as part of a previously announced cost-control plan including layoffs designed to prevent its key investment from being affected by macroeconomic and demand uncertainties, the U.S. chipmaker told Caixin.

The news comes amid rumors of massive layoffs at its Shanghai research and development (R&D) center and six months after Qualcomm President and CEO Cristiano Amon reaffirmed the company’s commitment to expanding its business in China and highlighted the huge market potential for its chip products in the country’s booming electric vehicle industry.

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