Rumor mill has it: 3-5 K people will be let go.. that is a huge number.. Heard QMT folks got pink slips as well
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PJ, why did you leave us? Why?!!! I can believe you stepped down just for retention of SM, that's too much generosity.... there must be a logic explanation... does anyone knows the REAL reason why PJ left? Please tell us.
Sorry for you laptop. What are you going to put on your ithelp ticket haha. PJ understands that in order to build a future you need to invest in innovation and take risks. Risk means maybe 9 in 10 will fail but it is that 1 that counts. Current management seems to cut everything that does not have a sure roi in 2 to 3 years. In doing so you are a sure loser long term. Isn't it ironic that Apple is investing millions in display technologies and takes over were qc drops the ball?
PJ comeback? Good one. Ha ha ... I spit coffee all over my laptop keyboard reading that. Junior wrecked the company.
Don't worry... Be happy.
99480: right qmt is axed. Their yearly budget was already cut to the bare bones smaller than SM's bonus. I heard that one of the world's largest display makers wanted to start mirasol work. Apparently the small group of MEMS engineers that know how to make the displays are going to be on the street. The technology is true innovation. Unbelievable. PJ come back. Why wait? QC needs vision.
"SM== that's a palindrome, cuz!!
Guys, BTW, let's not forget to extend a warm welcome to our new HR EVP MS! .... SM&MS nice execution team
QMT is axed. That's all I know. Any other departments?
@Anonymous99477, how do you know if there won't be any cherry picking? How do you know if entire divisions will be axed? Which divisions?
Where is the 3K-5K number coming from. It's too big. Just a silly rumor I guess.
Que Sera, Sera,
Whatever will be, will be
The future's not ours, to see
Que Sera, Sera
What will be, will be... la la laaa la la .... mm mm mm ....mm mm ...mm mmmm
Likely there is little you can do to save your job if it does come, entire divisions will be axed with very little cherry picking, since everyone director or even VP and below will be cut.
Best you can hope for is a spin off or sale.
San Diego can't absorb 300 engineers right now, much less 3000, so likely you are looking at moving.
It will be ugly and brutal if the rumors are true, but her, those sorts of things is why SM makes the big bucks.
When SM said that QC was working with outside consultants, he was saying, for $50M he would bend over for you (investors), and he would screw over every QC employee to please you.
This is why being a CEO is so expensive:
http://richkidsofinstagram.tumblr.com/
Re 99452, look, f*ck S&M. Stop being so fatalistic. You don't know whats going to happen, so just stop assuming that you are going to get laid off and apply yourself at work - its the only thing that you can do except look for another job, so just take a chill pill and get on with it. All this "I'm going to get laid off" is crap at this point as far as you guys really know and just raises everyones anxiety level (and can be self fulfilling for some of you guys).
50M can't buy a damn thing. Did you see ballmer in game 7 against the spurs? took a lot more than 50M to get that kind of faux stress. sure beats davos though.
If you are handed $50M, will you EVER be worry? ... SM likes to talk about what keeps him away at night ... I bet he sleeps like a baby unless his dog barks at night.
Don't worry about activist investors. Let the execs worry, just like they said in all-hands. Just cause activist says QC is bloated and needs deep cuts to preserve margins -- it's actually TRENDY to be targeted. It simply means we got a grip of cash on the offshore books! All the cool kids are doing it. MSFT, APPL... Wait, what? Deep cuts and layoffs are worrisome to the plebs who need to pay actual bills? Oh crap. Get back to work.
@99417: In private, QC HR and exec’s would say what you said, “start working harder to help ensure you aren’t one of those 5k.” In public SM would say, we are working with outside consultants to evaluate our cost structure to help streamline our operation. Translation to thelayoff.com, we are going to fire your ass, and we don’t want to be blamed for making the decision.
Re "Key question: when will the announcement come?", so what difference would that make? If you got the answer that there were not going to be any layoffs, what would you do different? If you got the answer that there were going to be 5k, what would you do differently? If the answer is you would start looking for a job now, or start working harder to help ensure you aren't one of those 5k, well, why don't you just do both and take control of your life?
A few have stated on this message board that the layoffs/severing/Piping will be in the thousands. Key question: when will the announcement come? Don't think anyone on this board has a clue. Has Boston Consulting or whatever (aka The Bobs) even begun their investigation yet? (Although I assume our certain internal QC analysts already have a sense of ROI per project from last Nov/Dec's cuts?)
Heard 5k minimum
There are a lot of fishes in the sea. Qualcomm is not the only fish.
the important thing is whether there should be layoffs or not.... there is a lot of bloat in QUALCOMM ....a lot of people doing meaningless work....... a lot of people just attending meetings... it is time to cut fat ;-)
no such thing, no worry
Anonymous99204,
If you're so hell bent on telling people to get back to work, why are you on this site?
Hypocrite much?
Rumors and more rumors. Get back to work y'all.