Anyone know?
10 replies (most recent on top)
Looks like they are planning end of this week or next week? Lots of rumors are floating around -- super distracting from work.
5% was total cost reduction. Given travel costs actually increased, there was no real estate savings and other costs have not been reduced, they will have to reduce much more in headcount to make up for the overall 5%. Expect 10% HC reduction.
Qualcomm should learn from meta and flatten the hierarchy.
In QCA, even if they trim 20% mainly from from Sr staff managers, principal managers, directors, Sr directors, vps, it will be fine. But layoffs tend to start from engineers...
From reliable source coming layoff will be about 1% to 3% depending on organizations. More may be cut if business doesn’t improve in Q3
Whoever thinks that it’s truly 5% including previous attrition is being super naive. This is the CEO’s way of being harsh harsh and let each organization do their reductions. I wouldn’t be surprised if some organizations will do more than 5%. Time to clean house. No one is safe especially the remote employees.
Qualcomm executives like people to come to the office. They were very accommodating during the resignation period because they were afraid talents would leave the company. Now we are in a bad economy. Employers have the upper hand.
Seem people hate CNBC … I saw the same numbers reported on CNBC also…. Everyone guessing wonder if CNBC is guessing also… or if a bunch of pink slips are coming in the next week
Should be max 2% as they've already achieved 3% cost down out of 5 % target. But now they set a new 4-day office policy, they may not even need to do 2% expecting some people leave voluntarily.
maybe 5%?
CNBC announce layoffs of 800 workers at Qualcomm… but didn’t say if it included international … aired 2/8