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Wireless

Qualcomm to cut costs, narrow focus in strategic review

Thursday 23 July 2015 | 08:41 CET | News
Qualcomm announced plans to review its corporate structure and cut USD 1.4 billion in costs, as part of a deal with its activist shareholder Jana Partners. Qualcomm CEO Steve Mollenkopf said the agreed changes will lead to improved execution and financial and operating performance. The agreement with Jana will be filed with the SEC. The "right-sizing" project will see USD 1.4 billion in cost reductions by the end of fiscal 2016, including a USD 300 million reduction in annual share-based compensation. Executive compensation will be further aligned with performance, including returns on

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Categories: Mobile & Wireless
Companies: Qualcomm
Countries: World
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