[News] Qualcomm Proposes Intel Acquisition While Planning Hundreds of Layoffs Under “Diversification Strategy”

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As Qualcomm reportedly eyes a potential acquisition of Intel, the chipmaker is once again making headlines for its upcoming round of layoffs.

According to TechCrunch, Qualcomm will cut 226 jobs in San Diego later this year, as revealed by a California WARN notice. The layoffs, set to take effect the week of November 12, will impact 16 facilities across the city, including its headquarters. It remains unclear which specific divisions will be affected.

The latest job cuts come less than a year after Qualcomm reduced its workforce by over 1,250 employees, despite reporting $35.8 billion in annual revenue in 2023. These layoffs reflect the company’s ongoing efforts to realign its resources amid a strategic shift, focusing on maximizing opportunities in diversified markets.

According to Wccftech, Qualcomm has made notable progress in the laptop market, with its ARM-based Snapdragon X Elite SoCs gaining popularity among manufacturers. CEO Cristiano Amon has revealed that the company is developing more “affordable” laptop models, with prices potentially starting at $700, in an effort to capture a larger market share.

Beyond Qualcomm’s focus on AI-powered PCs this year, the spotlight has shifted to reports that the company has approached Intel Corp. to explore a potential acquisition of the struggling chipmaker. According to sources cited by Bloomberg, this move could result in one of the largest mergers and acquisitions in tech history.

(Photo credit: Qualcomm)