Qualcomm Plans Worldwide 'Performance-Focused' Layoffs Starting in November: What It Means for Workers

Qualcomm, one of the world's biggest smartphone chip designers, plans to cut jobs around the world, and it is tying the cuts directly to employee performance reviews. That makes this round of layoffs a useful reminder for workers everywhere about what an annual review can mean for job security.

CEO Cristiano Amon told staff in an internal memo on Monday, Oct. 19, that the company will carry out a "performance-focused reduction" following its annual employee reviews, Reuters reported. Notifications to affected employees are set to begin in November.

What did Qualcomm announce?

Qualcomm plans worldwide job cuts after its annual reviews, with notifications starting in November, according to a memo from CEO Cristiano Amon reviewed by Reuters. The memo did not say how many jobs will be affected. Amon said the goal is to build "a stronger performance culture."

According to Reuters, Amon said the cuts are meant to address employees who have consistently fallen short of expectations. He said business priorities, organizational needs, and skills and expertise would all be considered in deciding who is affected. Reuters could not immediately determine the scale of the cuts, and Qualcomm did not immediately comment.

In the memo, Amon also tied the cuts to how the company is changing, saying the skills Qualcomm needs have shifted as the business has expanded, according to a Stocktwits report published on Yahoo Finance.

Qualcomm had about 52,000 employees as of September 2025, Reuters reported.

Why is Qualcomm cutting jobs now?

The company has been hurt by a slump in consumer electronics sales as memory chip prices rise, which makes devices like phones more expensive, Reuters reported. In July, Qualcomm forecast quarterly profit below analysts' estimates and said revenue from Apple would decline faster than expected. The company expects growth in data centers and other businesses outside of phones to help make up for that by its 2027 fiscal year.

Its stock has lagged as well. Qualcomm shares were up about 1.5% in 2026, compared with gains of more than 12% for the S&P 500 and nearly 60% for the Philadelphia Semiconductor Index, an index that tracks chip stocks, according to Reuters.

What this means for your wallet

Even if you don't work at Qualcomm, this kind of cut is worth understanding, because it puts extra weight on something most workers already have: an annual review. Here are practical steps that may help, whether you're worried about your own job or just want to be prepared.

• Read your most recent review closely. If it says you missed expectations, ask your manager in writing what specific results would count as meeting them, and by when.
• Keep your own record of wins. Save emails, metrics and positive feedback outside of company systems you could lose access to, without copying anything confidential.
• Know the notice rules. Under the federal WARN Act, employers with 100 or more employees generally must give at least 60 calendar days of advance written notice before a plant closing or a mass layoff affecting 50 or more employees at a single site, according to the U.S. Department of Labor. Some states have their own rules.
• Don't assume severance. The Department of Labor says there is no requirement in the Fair Labor Standards Act for severance pay, which is "a matter of agreement between an employer and an employee." Read any offer carefully before signing.
• Check unemployment rules in your state before you need them. Our guide to unemployment benefits explains who usually qualifies and how to apply.

A cash cushion is the biggest buffer of all. Here is a simple example. If your essential monthly bills, such as rent, food, insurance, transportation and minimum debt payments, add up to $3,500, then three months of savings would be $10,500. Saving $350 per paycheck on a twice-a-month schedule would get you there in 15 months. Even one month set aside can give you room to job hunt without rushing into the first offer.

**Related read:** As we laid out in our layoff money checklist, the weeks before a possible job loss are the best time to trim expenses, list your accounts and check your health coverage options.

If you're comparing severance terms, our look at HubSpot's layoffs and severance offer shows the kinds of details worth checking, from pay and health coverage to deadlines for signing.

What to watch next

The key date is November, when Qualcomm is set to begin notifying affected employees. Watch for any formal disclosure of how many jobs are cut and where, including state WARN notices, which can reveal local numbers. Investors and employees will also be listening to Qualcomm's next quarterly results for updates on its push beyond smartphones.

More broadly, more companies may use performance reviews to trim staff when growth slows. If your employer runs annual reviews, it may be worth treating yours as more than a formality this year.