Been hearing this
12 replies (most recent on top)
Not questioning that the economy is on a steep downswing, but Qualcomm revenues have been falling for a while. Operating costs are out of hand. Sales, Marketing, and Finance could cut 15-20% without spilling blood. Where is the value in their forecasting when revenues are flat? Sales and Marketing will get their bonuses and incentives despite the company hemorrhaging revenue and losing value.
10-Q filing will show the budget allocated to cutting cost (severance packages etc for layoffs)
Q4 report on 11/1 is the key.
@1mqp, nonsense equating %rif and %revenue loss. It is a non-linear equation.
"Probably, more bad news is inevitable. Recession likely coming too."
we have been in a recession for the last couple of years
the corrupt clowns in charge merely just changed the definition
also the government numbers are not trustworthy - who is hiring white collar workers in mass
There will be no more layoffs. The plan is to reduce the wages of inflated-title rest-and-vest garbage personnel according to California mandated minimum wage.
Qualcomm is a fabless company that owns nothing besides IP. The only expense they can reduce is labor.
15% of the workforce has been cut recently, but revenues are down 25%, so I think there is going to be further bleeding if the economy stays down. Layoffs are the only option QCOM has to make their books balance.
Probably, more bad news is inevitable. Recession likely coming too.
Yes. A big layoff is coming. This was a warm up. Confirmed with higher ups. Good luck all
With falling revenues, Qualcomm plans to move more jobs to low cost areas , so make your own conclusion
No need to speculate so early on. Let's see what the next 10-K reveals.
There will always be small frequent targeted layoffs. All tech companies are doing it. No large layoff planned though ..... yet.