Qualcomm Begins Layoffs in Bengaluru as Another Round Looms in January
Key Facts
Qualcomm has begun laying off employees in India, with the first round starting at its Bengaluru facility on Monday, according to the Financial Express. The move comes as part of a global job-cut plan announced by the company, but the newspaper’s report did not specify how many employees in India were affected. Qualcomm had not officially commented on the India layoffs as of the report’s publication. The company previously said the global job cuts would focus on performance, following annual employee reviews. Reuters reported that notifications to affected employees would begin in November 2026.
The available report does not establish that the Bengaluru cuts are part of an announced cost-cutting program, nor does it identify other locations in India or abroad included in the first round. The report cited analysts as expecting another round of job cuts in January, without explicitly specifying the year. This follows the company’s November 4 release of fourth-quarter fiscal 2026 results, with GAAP revenue of $10.322 billion, down 8% from $11.270 billion in the same period of the previous fiscal year. On a non-GAAP basis, revenue was $10.442 billion, a year-over-year decline of 7%.
The decline was concentrated in the chip business, with QCT revenue falling to $9.015 billion in the fourth quarter of fiscal 2026, from $9.821 billion a year earlier, a decline of 8%. Phone-chip revenue fell 26% to $5.137 billion, from $6.961 billion in the comparable period. In the opposite direction, automotive revenue rose 89% to $1.990 billion, compared with $1.053 billion. Internet of Things revenue also increased 4% to $1.888 billion, from $1.807 billion. The results show divergent performance across the segments in the same quarter, with phone revenue declining while the other two businesses grew.
Qualcomm said the semiconductor industry is facing broad increases in input costs, including chip manufacturing, assembly, testing, advanced packaging, memory and other materials. The company said it had taken pricing actions to counter the pressures and expects their full effect on QCT’s gross margins to emerge in the second half of fiscal 2027. That timing puts the expected impact after the period when notifications tied to the global job cuts are due to begin, which the company said would be in November. The company did not link the India layoffs to its pricing actions or input costs in its earnings statement.
For the first quarter of fiscal 2027, Qualcomm forecast revenue of between $10.4 billion and $11.2 billion and non-GAAP diluted earnings per share of between $2.15 and $2.35. The company did not describe the guidance range as weak in its statement. QCOM shares closed at $171.47 on November 9, 2026, according to EL7 data. The expected additional round of job cuts in January was reported by the Financial Express, citing analysts, and Qualcomm had not officially announced it in the available information.