As you know, in January we created an investor presentation that outlined our path to move Qualcomm forward and drive value. This included a commitment to increase our operating performance and reduce costs. Unfortunately, workforce reductions are a necessary aspect of that plan, and this week we notified the majority of employees whose positions were impacted.
The decision to impact employees is never taken lightly, and the Executive Team and I recognize how this affects our colleagues and friends who are an important part of our teams and workplace, as well as their families.
As such, we have taken great care in our approach to this action, by carefully reviewing and assessing business and resource needs throughout the organization, and by ensuring that employees receive a supportive severance package and access to career transition resources.
Please provide your full support to your colleagues during this time, and help ensure that everyone upholds our culture of care and respect. While this isn’t easy for an organization to undergo, it’s important to remember that the overall expense reduction effort is a critical component in positioning Qualcomm so that we can maintain our leadership position, expand into new areas and continue to invest in our key growth opportunities.
I will share more information with you at next week’s All Hands Meeting. In the meantime, I thank you for your support and understanding as we take these difficult actions.