Smartphone chip maker Qualcomm lays off over 1,200 workers

Qualcomm is trying to diversify into new markets, but it’s not enough to offset the decline in its core business.

Qualcomm, one of the world's leading smartphone chip makers, has announced that it will lay off 1,258 employees in California as part of its cost-cutting measures. ThePeople are not switching smartphones as frequently as before. The inflation and incremental updates on new smartphones can be a factor at play.

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More Than 200 VC Firms Sign Public Statement In Support Of IsraelI'm a senior editor at Forbes covering venture capital and startups, especially in cloud and AI, out of New York. I edit the Midas List and Under 30 for VC, and created the Midas List Europe and Cloud 100 lists. I've written more than a dozen cover stories on business leaders including Marc Benioff, Patrick Collison and Melanie Perkins.
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