Qualcomm is laying off more than 1,000 employees: All the details

It seems like the brief respite from bad news of big tech companies laying off employees has come to a halt. According to a report by CNBC, Qualcomm has announced that it will lay off more than 1,000 employees. As per the report, the layoffs are restricted to California in the US, primarily in the Santa Clara and San Diego offices of the company.

What does Qualcomm have to say on layoffs?

In its quarterly earnings report, Qualcomm said that the layoffs are part of restructuring exercise the company is undergoing.