Or are there still those who are convinced that they are safe?
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Q is light years ahead. The cuts are announced as performance based. Think a bit on what that means.
- If you are waiting to be cut by Qualcomm and you are not a good performer. Good companies are probably not going to hire you after you have been cut. (Why would any manager hire a low performer?). Most companies are frozen on hiring anyways now. So polishing resume is futile if you are waiting. Everyone at Q should have ALREADY applied to another company with a reworked resume.
- Should low performers be given a hefty severance? Probably not as Q ALREADY thinks they have squeezed the system by being a low performer and drawing an unfairly large compensation, which is why they are being cut.
Double whammy!
- Everyone is going to put in 2x more hours now, because at Q performance = number of hours spent slogging away. Q becomes more efficient at execution.
- Frozen hiring means that Q does not need to give hefty bonuses for promotions. Savings made on the back of slogging engineers with a veiled pat on the back.
$$ saved.
- There are going to be a significantly large pool of unemployed folks in California very soon. Add to that, an embarrassingly large number of college graduates (without start up funds). Blood bath in the next quarter. And you’re still only thinking of polishing resume.
Qualcomm just went through its most profitable years ever and still a hiring freeze… maybe people need to start upgrading their knee pads
Days of knee pads are gone. We have new bosses. As mentioned, targeted and performance based which includes profitability.
No one is polishing their resume in my group yet… but a lot of people have been investing GM in heavy duty knee pads
Most are too busy polishing the Johnson.
Wonder if there's any information of the severance package? Two weeks / year or one wk / yr