Hosmer was designated for assignment by the Cubs on Friday, Sahadev Sharma of The Athletic reports.
The 33-year-old first baseman was slashing just .234/.280/.330 through 31 games (100 plate appearances) this season and had barely seen the field since the promotion of Matt Mervis. Hosmer is still owed about $32 million on his contract, but the Padres are on the hook for the majority of that. Chicago signed him to a deal worth the MLB minimum in January.