The concept of labor in this country has been corrupted so much by decades of Reagan economics, American workers are literally helping their obscenely well compensated CEOs and major investors to screw themselves.
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Each Director is given a paltry 10,000 shares of stock for their immense impact on the company. Please pity these people. They meet 3 times a year and those 1-day meetings are hard work!
@Anonymous141896, the 810 chipset fiasco was a management fiasco, and the rot goes all the way to the top. The 810 with ARM core decision goes back a few years and reflects a chicken management that was afraid to push the design team to roll out a 64-bit core at an advanced schedule. These "suits" thought that the market would except a cheap and quickly rebranded ARM core and pay a stiff profit margin to keep all the VPs employed at Quacomm. For this awesome blunder the EVPs and VPs and executives will face ... no penalty, 4500 worker bees will be cut instead.
The board of directors is too out of touch to exert any real control of these fabulous blunders.
Considering large number of foreigners employed at Q, it might make sense from legal stand point for Q to cut a majority of h-1bs jobs to avoid possible massive lawsuit, since thousands of American citizens are about to lose their jobs
Tech workers laid off from Intel are organizing a class action; there is a possibility the same would happen here; especially after reading all the blogs from layoff.com discussing what happens behind the scenes. It's fair to say Q does like this web site too much.
Class action won't work. It takes something like general strike to make the 1% at the top blink. But, that will not happen. Given the politics in this country, there will be tons of workers who somehow believe that they are not part of the working class, and will bend over backward to drag everyone to the bottom. There is no hope for those who will not fight for themselves.
The board of directors are there to ensure the exploitation of workers is optimized, the extraction of productivity is maximized, the R&D expenditure and worker-bee compensation/benefits are minimized. Their interest is aligned with the "activist investors", who only care about QCOM stock ticks up a few percentage in the short term before their cash out - even if the stock gain comes at a steep price of eliminating the company's long term viability. For their job well done, the board of directors will collect a handsome compensation package - in the order of tens of millions of dollars and countless stock options. Seriously, there are people who are reading these postings and laughing their asses off, that all the stupid workers who are about to be kicked to the curb are busy pointing finger and calling names at each other.
Please somebody tell me what is the function of board of directors with big fat pay checks. They messed up everything with wrong decisions. Why not getting rid of them. We are here wasting energy on low paid H1B but not looking at high end with high paid useless ones . Please help me to understand their function here rather than quickly all selling their stocks
Well then let's band together. H1-B's, and all. Class Action Lawsuit anyone?