Qualcomm layoffs: Who gets 4 months' salary and extra compensation under reported exit deal?
Qualcomm employees affected by the latest round of layoffs in India could receive compensation worth up to four months' salary, along with additional payments linked to their years of service. The reported severance package includes an offer of three months' salary, with an extra month's pay for employees who complete their exit formalities within a specified deadline.
According to a Moneycontrol report, the US chipmaker has started cutting jobs in India, with employees in Bengaluru among those affected. The company is also expected to reduce its workforce in Hyderabad, Delhi-NCR and Chennai.
While the exact number of job cuts has not been confirmed, initial estimates suggest that around 1,000 employees in India could be affected.
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The reported exit package offers affected Qualcomm employees compensation equivalent to three months' salary.
In addition, employees could receive extra payments depending on how long they have worked at Qualcomm. Those who sign their resignation documents within three days of receiving the offer are reportedly eligible for another month's salary.
This could take the compensation to four months' salary, excluding any additional amount linked to their years of service.
However, the reported terms have not been officially confirmed by Qualcomm. The final payout may depend on individual employment terms and the company's exit arrangements.
The latest job cuts have reportedly begun in Bengaluru, one of Qualcomm's key technology and engineering centres in India.
Employees at its offices in Hyderabad, Delhi-NCR and Chennai could also be affected as the restructuring progresses.
Although reports indicate that around 1,000 jobs could be at risk across the country, Qualcomm has not announced an official figure or provided details of how many employees will be asked to leave.
The job cuts come as Qualcomm faces mounting pressure in its smartphone chip business.
Demand for smartphones has weakened, while rising memory chip prices have added to the challenges facing the industry. The company could also see a decline in revenue from its business linked to Apple, adding to the pressure to rethink its operations.
At the same time, Qualcomm is looking to expand beyond its traditional smartphone business. It is increasingly focusing on newer areas such as artificial intelligence (AI), data centres and automotive technology.
The shift in business priorities has prompted changes to its workforce and organisational structure.
Qualcomm has not yet officially disclosed the total number of employees affected by the job cuts in India. It has also not confirmed the reported severance package or the additional payment linked to early completion of exit formalities.
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