Reliable sources are saying, just like in previous instances, that there will be layoffs in March and again in October—two per year seems to be the new normal. Anyone see it differently?
29 replies (most recent on top)
13 days to go before March :D
"CA said: “If any job from North America can be outsourced, it will go to India or Mexico at at a fraction of the cost; only the jobs that require break through inventions will stay”"p
Bye Bye CA. You are way way overpaid and as inventive as a cat - looks cool and lounges around.
JDEI
CA said: “AI == ALL I.n.d.i.a.n”
Post mentions reliable sources - who?
Looking at the Fruit company website, it seems there are lots of job openings in San Diego
you have to wonder how many of these 'stories' are true and not an attempt by HR to get people to leave with no severance and bad publicity
Instead of treating highly educated, skilled and talented employees with dignity and respect, qcom chooses to treat them like dirt. All their misdeeds will come back to bite them... karmic retribution.
@py+1jjt7sxgn you can bring it up with your manager and HR and ask for a package. You will be put on the list of volunteers and let go on the next big layoff. Now that layoffs happen twice a year thats a wait for maximum 6 months. Try to be professional and explain your reasoning. For me it was a family reasons and I also wanted to move on to something else in life. I did it and several other colleagues did it. Qualcomm is civil about that. There was no retaliation or anything.
@n9+1jjt7sxgn
I too was entangled in the Oct '23 layoffs. Ditto your comments. Being laid off ended up being a blessing in disguise. While total pay is slightly less at my new job (due to lack of RSUs) I am soooo much happier. Gone is the, bureaucracy, politics and back-stabbing, toxic environment.
So I make a little less money, but having better mental, emotional and physical health is priceless. Life is a balance. Why work at a place where things just... su-k?
If layoff is true, I hope QCOM follows Google's lead in offering voluntary resignations for the ones's that like to leave. This way, it I'll offset the amount of people they have to let go. I know some peeps that would have volunteered but was not offered in the last 6 rounds (2 years) of mass layoffs.
CA said: “If any job from North America can be outsourced, it will go to India or Mexico at at a fraction of the cost; only the jobs that require break through inventions will stay”
I was let go in 2023 after many years of dedicated service. I consistently received high performance ratings (4s in reviews), and my entire team was impacted, so it never felt like it was just about me. The jobs were moved to India, but I didn’t let that define my journey.
In 2024, I found something even better, and looking back, I’m grateful to have moved on from that draining environment. They’re losing talent and innovation, and when everyone thinks the same way, creativity suffers. If you’re ever in a similar situation, take the package and pursue what you’ve always wanted—you might just find something greater.
When the bottom drops out of this company, it will be like Ernest Hemingway described in his novel 'The Sun Also Rises'. How did i go bankrupt? Slowly at first and then all of a sudden.
Similarities between Q and IBM:
Former Wall Street darling that lives on declining innovations (modem in the case of Q) from the past, desperately trying to compete and be relevant in the fierce present AI tech industry, forced to move jobs to India to cut cost due to pressure of paying high dividends, ran by short term CEOs who only care about their retirements and golden parachutes, losing top talent to local competitors and keeping aging obsolete dinosaurs
"CFO to save his job due to stagnant growth is resorting to all this financial trickery to bump the EPS with all these layoffs multiple times a year. They do these share buybacks to satisfy investors for the short term. After a while, if the investors lose their confidence rinse and repeat the cycle.
What they are not foreseeing is all the talent that they will be losing because of this uncertainty in the long run. Honestly, I think they don’t care in the long term, as they are concerned only for their term in these roles."
Bingo, well said. It feels like these companies are being drained dry for quick profit. Nothing better are replacing them. Are all these companies now Burger Kings where they flip cheap burgers over and over and over and over again? And the people who are making all this profit have very little useful skills today. Something is not quite right about this.
Q’s new motto: Excelling in edge computing—while keeping employees on the edge… of their seats, their nerves, and their job security.
So the layoff removes political posts but not racial ones 🥴
Why is there no real information, and only r*cism
South Indian Managers who were the original code coolies and came to US fraudulently 15-20 years ago are QCOM’s biggest bane. They know they are not worth anything and will go to any extent to save their a-s.
When a company starts:
- losing billions in revenue due to clients like Apple moving on
- paying big money in dividends to investors
- stop innovating
The only way to cut costs is to move jobs to India
Q goes to indin meaning goes down
Q is not even a second tier in same companies now, laying offs are just the start.
These posts (and the replies) keep getting less and less useful, more and more lame.
"With Porky being a DEI CEO the only way they can show any gain in Financials is by reducing the operating cost by moving jobs to India."
It is a 1 time cost reduction.
What does Q plan on doing next to make money?
Do they move those jobs in India to a country in africa where there might be a lower cost of living?
CFO to save his job due to stagnant growth is resorting to all this financial trickery to bump the EPS with all these layoffs multiple times a year. They do these share buybacks to satisfy investors for the short term. After a while, if the investors lose their confidence rinse and repeat the cycle.
What they are not foreseeing is all the talent that they will be losing because of this uncertainty in the long run. Honestly, I think they don’t care in the long term, as they are concerned only for their term in these roles.
They need to venture into cloud side of things to see growth through M&A instead of spending billions on those unnecessary share buybacks. Always, chanting about edge computing which anyways there.
Pretty much the norm for most tech. Usually performance based… cash out that espp 2/1 though, you’ll never know…
Yes sir, one per quarter until all targeted jobs moved to India. This seems to be the normal. Qcom likes to keep everyone edgy.
Rest vest ask to go remote, take the package and get the he-l out of there. You will never regret it.