US-based chipmaker Qualcomm is reducing 1,500 jobs across multiple divisions at its offices in California.

Qualcomm aims to cut annual costs by $1 billion as part of its strategy to improve growth of profit in coming years.

The semiconductor company, which has strong presence in India and China, has about 33,800 employees as of September 24, 2017.

Qualcomm is yet to reveal whether it would cut its jobs in India as well. India is the second largest phone market after China.