"right sizing"! Oh, puke!

If there is less desk space because of closing offices....does that mean they are going to have significantly fewer employees in San Diego and work done elsewhere ?

Qualcomm acted like a coward for the China antitrust case. They even did not say a single shit when the company wa fined with 1000 million.

But then again, since most everyone won't be getting RSU's moving forward, only the execs, I guess it wouldn't matter if it goes to $0 now.

See ya semiconductor industry. Wouldn't want to be ya.

This is what CNBC reported on Office Closures: "The cost initiatives will come from layoffs, streamlining and reducing the number of offices, the company said." - http://www.cnbc.com/2015/07/22/qualcomm-q3-earnings-2015.html

http://edge.media-server.com/m/p/aywoxt5p

If the savings target is 300 Million, and if 25K people are left employed - let's do the math: 300,000,000/25,000=12,000 - so, on average our loss (bonus/RSU) would be around 12K per employee (I'd take that)

http://www.cnbc.com/2015/07/22/qualcomm-q3-earnings-2015.html?__source=yahoo%7Cfinance%7Cheadline%7Cheadline%7Cstory&par=yahoo&doc=102855508 Works out to a $10k cut per worker but we all know how things work at the Q with respect to executive and VP... — read more 

15% wokforce cut, some offices will be closed, RSU/bonus reduction... if they do not lay you off now, it's better to leave anyway...

Thanks god, we are safe in my division. I heard QCT is just a machine, can move them to oversees.

Rock on!

It doesn't sound like they've fully implemented it yet and know who to cut, so it seems more like a gradual RIF...

are a bunch of dollar and cents and shareholder value... Nothing about innovation, technology, etc. Q definitely isn't anything like what the Q was under Irwin....

4500 Folks gone. Most likely most of them from SD & SJ. May be even more, as they want to increase the mix in low cost areas. For rest of the folks less bonus/RSU ( to save 300mil). Pretty much 2 persons out of 10 folks you know are un employed now. — read more 

I'll just show up.

http://www.cnbc.com/2015/07/22/qualcomm-q3-earnings-2015.html

Barry Rosenstein: "We support the bold steps the Board and management are pursuing to enhance stockholder value and are pleased to have worked constructively with them in this endeavor."

Brent Scowcroft and Duane Nelles have retired from the Board − Donald Cruickshank had previously informed the Company that he will not stand for re-election in 2016 − Raymond Dittamore has advised the Company that he does not intend to stand for... — read more 

have been added to the Board

Aggressively right-size cost structure; 2. Review alternatives to the Company’s corporate and financial structure; 3. Reaffirm intent to return significant capital to stockholders; 4. Add new Directors with complementary skill sets while reducing the... — read more 

A huge reduction in RSU grants and bonus, ($300million), some headcount reduction, and some consolidation from all the acquisitions. In short, it doesn't sound that bad. Well, at least for now... Having two JANA folks on the Board however spells the... — read more 

I've been with QCOM for well over a decade. My personal view from having witnessed the changes over the years is the following: Irwin was a great leader, and is a great man. He mainly cared about the people who worked for him, everything else was... — read more 

According to this presentation: http://files.shareholder.com/downloads/QCOM/486555345x0x840493/B65DC0D3-FB49-49CB-9A18-A5ECDE4837D6/Strategic_Realignment_Plan_Presentation.pdf

I am guessing this will be the most highly attended earnings call in the history of the company.

We see managers have failed the team due to their inability to manage and lead the team. If engineers can see how bad their managers are at their job, why management cannot see that? Getting rid of folks who actually get work done is not going to... — read more 

ZPA Announces: We will use this thread to provide live coverage and commentary of the 7/23/15 earnings call (1:30 PM PDT). Please keep our discussion civil, polite and focused on the earnings, layoffs and any information released during the call... — read more 

Silicon Valley Managers: A great time to load up on staff. Set up an office here in SD, we got talent and a lifestyle. You keep trying to pack them into SFO because Silicon Valley is a social dead zone. Why pay "uber $" for spoiled engineers who have... — read more 

Highly likely to find another hon in SD as of now. Not many jobs around.