Apple, Qualcomm Skip Layoffs

Of the 10 largest U.S.-based technology firms, only Apple and Qualcomm haven't cut jobs over the past year.

Apple and Qualcomm are two of the only tech titans who have not had to make job cuts, as wave after wave of layoffs have swept through companies related to the wireless industry.

Of the 10 U.S.-based software and hardware companies that have the largest market valuations, only Apple and Qualcomm have not made job cuts. Apple has bucked the trend facing technology companies and posted solid results for its fiscal first quarter, which ended Dec. 27, and said it sold 4.4 million iPhones in the quarter. Qualcomm also has made some business strides, signing a partnership agreement with once-bitter enemy Nokia to collaborate on smartphones, and aggressively pushing the launch of its Snapdragon chipset.

This is not to say that the companies are not suffering in the economic recession. Qualcomm CEO Paul Jacobs announced that the company would have a wage freeze and hiring cap, and told shareholders earlier this week that the company is trying to cope with the current economic conditions. "We have not done what a lot of other companies have done, which is have massive layoffs across the company," Jacobs said. "We have had some targeted reductions, but for the most part we've managed to maintain our workforce."

Apple meanwhile saw its sales of the iPhone drop from 6.9 million in its fiscal fourth quarter, the first quarter impacted by the launch of the iPhone 3G. Its shares also took a hit in the wake of disclosures about Steve Jobs' health issues.