JULY 26, 2018 -- QUALCOMM KILLS NXP SEMICONDUCTOR DEAL
Qualcomm apparently has killed the NXP Semiconductors deal for $44 billion due to Chinese regulators missing Qualcomm's self-imposed deadline. While Qualcomm will have to pay NXP a break-up fee of $2 billion, it appears that Qualcomm is planning to spend approximately $30 billion in a stock buy-back that will deliver additional value to Qualcomm shareholders.
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San Diego, California-based communications chipmaker Qualcomm, Inc., continues its restructuring with the layoff of another 284 Jobs from the Data Center Chip Unit, 43 from their California team, and 241 employees at the company’s Raleigh, North Carolina data center.
The chip unit designs manufactures, and markets processing chips for data-center servers.
According to published reports, the chipmaker was originally considering the sale of the unit but changed direction. Qualcomm President Cristiano Amon said, “Qualcomm remains committed to data-center opportunities and is not divesting the assets. We are reducing our investments in the data-center business but remain committed to our China joint venture [advanced server chipset technology 45% owned by Qualcomm, 55% owned by China] and refocusing our R&D efforts for upcoming compute opportunities at the edge of 5G networks and AI inference cloud chipsets.”
Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. We see good people being laid off through no fault of their own. Just because something bad hasn't happened yet, doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?