Gonna be big this time. Good luck everyone!
Don't humor the haters.
Not easy to find jobs right now. Google 'leetcode layoff' - Tons of stories from laid of faang'ers not being able to find jobs after months of searching. And having to memorize leetcode all over again. If affected, look to join places with good work life balance and you will have a happy family. A happy family is a happy life.
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Bad news:
- China market slump
- Apple will use own modem next year.
- Hisilcon is back.
- Mediatek is catching up for flagship.
- Nvidia+Mediatek is into auto cockpit market with their strong position for ADAS.
- Multiple BUs are losing money and blood and CEO does not want to cut them, it is long list, you know them.
Good news:
Sorry no good news.
In past 3 years, QC has good revenue/profit just because lucky(Trump's help including banning Huawei, stop BRCM acquisition，apple own modem progress, etc).
Obviously The exec team was blindly optimistic without realizing the nature of the problem, and struck out on all fronts, putting the company's limited resources into multiple directions and projects, expanding too many people for this purpose (which included a lot of people who wanted to get promoted to VP to expand their own teams and thus reporting upwards on false manpower needs) and carrying out too many directions of the business. Today most of the businesses and projects are bleeding and the management doesn't have the guts to decisively open these projects as it would prove the incompetence of the management. I don't see the point of this apportionment of layoffs, shouldn't they be brave enough to cut money-losing projects with no future and lay off those people?
I see this as nothing more than a case of having a professional manager who kidnaps the interests of the company, and these middle and upper level professional managers feed their own wallets but leave the company's prospects bleak with countless ordinary employees out of a job. Frankly speaking, not many people in the middle and upper management will think and act in the overall interest of the company, they only care about their own positions and interests.
@geu+1ojYGcKX your friend is a superstar.
It's by design. Any layoff is opportunity to trim higher titles.
The company grew without any control from the decision makers going from 20-30k employees globally to about 50k during the Covid years.
All of a sudden because we’re not hitting the same profit numbers there is panic and now we gotta cut a lot of the workforce?
My friend was lid off 60 days back in individual contributor engineering role.
He now has 3 job offers.
For thr engineers job market is still pretty good.
A lot of people from meta google and microwave who were let go were simple status collectors with bs role.
Yes, in the May layoffs, it was clearly announced months ago 5% opex reduction. Yet, jokers on this forum complaining why the major news agencies not responding to rumors on layoff.com. One clown also started a tweet to highlight activity on this forum. Turns out there was nothing new to report that deviated from the earnings call.
In this earnings call clearly mentioned no recovery in China seen and no estimate on layoff upper bound. That says a lot.
Good news: stock price and recovery cam only go up from here. People will start buying smart phones again.
Bad news: over correction in head count reduction likely. But that's what will result in the good news for those who are safe.
It will be 3 to 4 times more than 2018
That’s not even 5%. Better do 50% from San Diego
1231 employees were layoff in san diego in 2018.
expect the number to be higher than 1231 this time.