Qualcomm (s QCOM), the mobile chip giant that eats competitors like Pac Man munches berries, is cleaning up its middle management ranks and is said to be making more cuts across the board in order to rein in expenses. These cuts have been going on for past few days, sources tell us.
Qualcomm has lately been facing some heat from low-cost rivals like MediaTek. In addition, large smartphone makers such as Apple and Samsung are increasingly building their own silicon instead of leaning on the San Diego, California-based mobile chip behemoth. These challenges perhaps explain why the company reported a lukewarm fourth quarter of (fiscal) 2013 year and forecast more modest revenue growth than Wall Street was expecting.
In a conference call discussing the earnings with Wall Street analysts, CEO Dr. Paul Jacobs said:
“In fiscal 2014 we are facing some mix and demand factors which we currently expect…
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