SAN DIEGO -- January 11, 1999 -- Qualcomm Incorporated (NASDAQ: QCOM) today announced it was named one of FORTUNE Magazine's "100 Best Companies to Work for in America." Qualcomm ranked number 47 in FORTUNE's second annual listing and was the only company headquartered in San Diego to be selected.
The rankings, which appear in the January 11 issue of FORTUNE, were compiled through extensive research, analysis and a poll of more than 27,000 employees at hundreds of companies nationwide.
"Qualcomm is proud to be recognized for its unique, employee-friendly work environment," said Richard Sulpizio, president and chief operating officer of Qualcomm. "We are committed to the continued well being and development, both professionally and personally, of our employees."
Among other benefits, FORTUNE highlighted Qualcomm's extensive recreational facilities, including its fitness centers, tennis courts, swimming pool and sand volleyball court; number of applications received per year; and low turnover rate.
FORTUNE collaborated with best-selling authors Robert Levering and Milton Moskowitz to compile the list, using methodology similar to that used for their books, The 100 Best Companies to Work for in America. To be eligible, a company had to be at least 10 years old and have a minimum of 500 employees. Levering and Moskowitz, who have been tracking the best companies since 1981, searched their database of more than 1,000 companies and selected 295 companies as the most viable candidates for this list. Of this group, 206 participated in the entire selection process.
Employees of the selected companies completed the Great Place to Work Trust Index designed to evaluate trust in management, pride in work and camaraderie, along with the Hewitt People Practices Inventory, a 31-page questionnaire developed by Hewitt Associates, a management consulting firm. Firms also were asked to submit company newsletters, employee handbooks and videos. Candidates were rated on a 175-point scale, based on responses from the employee survey, the written comments, the Inventory questionnaire and the supporting materials.
Qualcomm Incorporated (NASDAQ: QCOM) is a leader in developing and delivering innovative digital wireless communications products and services based on the Company's CDMA digital technology. The Company's major business areas include CDMA phones; Application Specific Integrated Circuits (ASICs); wireless infrastructure; technology licensing; and satellite-based systems including OmniTRACS® and portions of the Globalstar™ system. Qualcomm is headquartered in San Diego, Calif. Qualcomm's fiscal 1998 revenues exceeded U.S. $3 billion. For more information, please visit the Company's web site at http://www.qualcomm.com.
Except for the historical information contained herein, this news release contains forward-looking statements that are subject to risks and uncertainties, including timely product development, the Company's ability to successfully manufacture significant quantities of CDMA or other equipment on a timely and profitable basis, and those related to performance guarantees, change in economic conditions of the various markets the Company serves, as well as the other risks detailed from time to time in the Company's SEC reports, including the report on Form 10-K for the year ended September 27, 1998, and most recent Form 10-Q.
# # #
Qualcomm and OmniTRACS are registered trademarks of Qualcomm Incorporated. Globalstar is a trademark of Loral Qualcomm Satellite Services, Incorporated.