Qualcomm begins layoffs as part of cost cuts - Bloomberg

Chipmaker Qualcomm Inc has begun cutting jobs as part of its promise to investors to cut costs by $1 billion, Bloomberg reported on Wednesday, citing people familiar with the matter.

The size of job cuts is large enough that San Diego-based Qualcomm will have to file a WARN notice, or Worker Adjustment and Retraining Notification, with the state of California, the report said.

Qualcomm did not immediately respond to a request for comment.

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