Qualcomm Plans Global Layoffs Starting November
Key takeaways
- Qualcomm is trimming staff to support a shift toward AI and data‑center growth as handset sales slow, potentially tightening margins but opening new revenue streams.
- 52,000 employees (Sept 2025)
- Non‑handset revenue growth 24% (2026) to >60% (2027)
- Fiscal 2029 non‑handset revenue target $40 billion
What happened
Qualcomm announced it will begin global layoffs in November after its annual performance reviews, with no exact headcount disclosed. The company, which had about 52,000 employees in September 2025, said the cuts will focus on business priorities, organizational needs and employee skills. The move comes as Qualcomm shifts its focus from weakening smartphone sales to faster‑growing AI data‑center, automotive, IoT and other non‑handset businesses.
Why it matters
The layoffs signal a tightening of costs as Qualcomm pivots away from handset revenue, which is expected to decline. The company’s non‑handset revenue target has jumped from $22 billion to $40 billion for fiscal 2029, and it projects data‑center revenue of $5 billion in 2027 and $15 billion in 2029. These shifts…
Short-term and longer-term
Short-term. In the next few days, watch for the November layoffs to be announced and how the market reacts to the cost‑cutting news.
Longer-term. Over the coming months, investors should evaluate how Qualcomm’s shift to AI and data‑center businesses affects its earnings trajectory.