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Qualcomm to cut thousands of jobs, may split company in two
Qualcomm will lay off about 15 percent of its workforce and may separate its chip and patent businesses in a major realignment of the company.The action is designed to cut annual costs by about $1.4 billion. Qualcomm will cut back its investments in new product areas and focus those efforts on data centers, small cells and the Internet of Things.MORE: Biggest tech industry layoffs of 2015, so farThe mobile technology juggernaut is also shaking up its board of directors as part of an agreement with investment company Jana Partners. Jana, which owns a chunk of Qualcomm's stock, has pressured the company to spin off its chip division from its patent licensing business.To read this article in full or to leave a comment, please click here
Analysts can stop asking why Cisco hangs on to its set-top box business.