Qualcomm to cut 15% of workforce - Jul. 22, 2015

Qualcomm (QCOM, Tech30) -- a maker of smartphone hardware -- said Wednesday that it will cut 15% of its jobs.



The layoffs add up to about 5,000 workers. News of the job cuts came as the company also reported its revenues fell 14% and that its profit was down 47% from a year ago. Shares slumped 1.2% in after hours trading and are down more than 21% over the past year.



Qualcomm to cut 15% of workforce - Jul. 22, 2015