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Qualcomm lays off 200
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June 29, 2000: 11:23 p.m. ET
Former tech darling provider hurt by wireless disappointments in Asian markets
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NEW YORK (CNNfn) - In the wake of disappointments for its wireless communications technology in Asia, Qualcomm Inc. said Thursday it was laying off nearly 200 employees, or about 3 percent of its 7,000-member workforce.
The layoffs are mostly in San Diego and include both full-time and part-time professional, technical and administrative workers, said Qualcomm spokesperson Christine Trimble.
Trimble said the layoffs are needed to streamline Qualcomm's operations and not related to the South Korean announcement.
The San Diego-based company warned on Wednesday that orders may slow down in South Korea, a key market for the dominant provider of the chips used in mobile phones in North America and other parts of the world.
 The company was also disappointed earlier this month when China's second-largest phone company decided to postpone the use of Qualcomm's wireless communications technology, code division multiple access or CDMA.
"We conducted an evaluation of the skill set of employees against the company's needs and future business needs and made adjustments," Trimble added.
Shares of Qualcomm (QCOM: Research, Estimates), which ran up nearly 20-fold in 1999, have been battered since the beginning of the year, falling more than 70 percent. The stock was down nearly 3 percent to close at 61-3/4 on Thursday. 
- from staff and wire reports
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Qualcomm
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