Qualcomm says it has decided against splitting up the company.

The San Diego-based chip maker says that it's completed its review of its operations and decided that it's best served by its current corporate and financial structure.

Qualcomm shares are up almost 3 percent in morning trading on the news.

Qualcomm Inc. announced the structural review in July, along with plans to slash its spending by $1.4 billion and cut its workforce by 15 percent.

At the time, the company had been under intense pressure from Jana Partners, a major shareholder, to make changes. As part of the changes, Qualcomm immediately added two Jana picks to its board and said it would add a third later.