As many as 1,000 Indian techies may reportedly lose their jobs as Qualcomm, the electronic chip maker, began job cuts starting with Bengaluru operations on November 9. The US-based company is likely to reduce 5-6 per cent of its total workforce of 20,000 in India. The company offered affected employees three months' severance and additional compensation.  

As per several media reports, the recent job cut was part of global workforce restructuring.

Who are Affected?

The first round of layoffs at the US-based semiconductor company has affected senior engineers and employees with many years of experience, Moneycontrol said.

Meanwhile, the report said the process is likely to expand to Qualcomm’s engineering and research centres in other parts of the country, including Hyderabad, Delhi NCR and Chennai.

The company did not disclose the number of government job cuts; however, media reports suggest that the restructuring could affect 5-6% of its approximately 20,000 employees across the country.

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Proposed Severance  

Affected employees were reportedly offered three months' salary as severance. 

Term Type

Details

Base Severance

Equivalent to 3 months' salary

Tenure-Based Compensation

Additional compensation linked to length of service

Early Signing Incentive

1 additional month's salary if exit documents are signed within 3 days

Official Confirmation

Terms are not publicly confirmed by Qualcomm