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Technology Stocks : The New Qualcomm - a S&P500 company

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To: Ramsey Su who wrote ()	6/29/2000 5:12:00 PM
From: nbfm	Read Replies (1) of 13582

Qualcomm Lays Off 200 .c The Associated Press SAN DIEGO (AP) - Wireless communications firm Qualcomm Inc. is laying off nearly 200 employees, citing a need to streamline its operations. The layoffs, a small fraction of the company's 7,000 employees, are nearly all in San Diego and include both full and part-time professional, technical and administrative workers, Qualcomm spokeswoman Christine Trimble said Thursday. Workers were told of the dismissals Thursday and are being offered severance packages that vary with their length of service, Trimble said. San Diego-based Qualcomm announced Wednesday that it expects sales of its mobile phone chips to weaken in South Korea as handset sales decline because of that country's decision to end phone industry subsidies. Trimble said the layoffs are not related to the South Korean announcement. No further layoffs are immediately planned, she added. Shares of Qualcomm fell $2.063 to $61.50 on the Nasdaq Stock Market. On the Net: qualcomm.com AP-NY-06-29-00 1649EDT Copyright 2000 The Associated Press. The information contained in the AP news report may not be published, broadcast, rewritten or otherwise distributed without the prior written authority of The Associated Press. All active hyperlinks have been inserted by AOL.

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