Qualcomm To Lay Off 600 Employees: Report

Qualcomm Inc. is set to lay off about 600 of its workers worldwide, with 300 to go from its California operations, CNET has reported. The San Diego-based company, the biggest supplier of chips for mobile phones, disclosed in November that it is being investigated by the Federal Trade Commission over its business practices, and it has been the target of a long-running antitrust probe by Chinese regulators. However, the layoffs are not related to these actions, a Qualcomm spokesperson told CNET, it reported Tuesday. Qualcomm shares were down 0.5% in early trading on Wednesday.