Qualcomm Inc. (Nasdaq: QCOM) plans to cut 1,500 jobs, according to notices filed with the state April 18.
The move is part of the company’s promise to investors to cut costs by $1 billion.
The wireless giant said it will trim 1,231 jobs in San Diego and 269 at its offices in San Jose and Santa Clara in mid-June.
“As part of the cost reduction plan announced in January, Qualcomm is conducting a reduction of our full-time and temporary workforce,” a company spokesperson said. “A workforce reduction, such as this one, affects not only those employees who are part of the reduction, but their families, co-workers and the community. We recognize this and have offered affected employees supportive severance packages to reduce the impact of this transition on them.”
The spokesperson said the company evaluated other ways to reduce costs first, but ultimately decided layoffs were necessary “to support long-term growth and success.”
Qualcomm was under pressure to improve its earnings to fend off the now-defunct hostile takeover bid by Broadcom Inc. when it announced the cost-reduction plan earlier this year.
In 2015, Qualcomm underwent mass layoffs in a restructuring phase that resulted in thousands of jobs lost.
Qualcomm employs 13,000 people locally and is headquartered in Sorrento Mesa.