Savings target: $1B - that's around 4,000 employees to be laid off (calculating with with overhead). Low-cost regions will logically pick up more work so the majority has to be in SD. It's not enough to change travel policies (which might save $8 to $10m). Eliminating sodas might save $50k.
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Just to analyse this further as we are just looking at numbers without any details ;
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What is the duplication between NXP/QC ( areas + numbers).
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Even without NXP, QC had to save minimum 1bil. i.e ~ 4000. With NXP it should be larger. This is the unwanted fat to be cleaned up. Not that these are bad teams/engineers/people, but a reflection on poor management / HR by hiring people thoughtlessly. Non contributing Directors/VP and senior members ( staff or something ? ) needs to be off payroll right away. They need to be penalized by trimming the package seriously to these fellows.
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How will the corporate tax cut ( 35 to 22 ) help QC ? I guess, this will save some ( ~50 mil ?). QC paid ~555 mil in 2017. Just looked at EBT, looks trending seriously down for the past 5 years.
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What are the divisions not making money ?
just my 2 cents!
Add NXP to the mix and it looks horrific
Missing from these calculations is the combined NXP/Qualcomm headcount. NXP has almost as many people in North America as they do Europe.
Thanks -lde
-- OP
P.S. not exact numbers of course but it will certainly be >25% in SD. So this is 4x that of 2015. Fasten your seatbelts.
A Head in San Diego cost company 250k per year
So 1 billion is 4k... simple math
I can easily see 4k...
Most of the cuts would come from sd..
@mkt since you are the OP - how did you come up with the 4K number? also, why just SD? where is the 1B number coming from? and how did you come up with 1B=4K?
4K is massive...
just trying to get educated here - i joined last year and this is my first 'layoff rodeo' (yes, i've been warned prior to joining)
They may sell Qualcomm life if they find a buyer ...
If it's 4K in San Diego that is more than 30% of San Diego.
I wrote the post you copied btw.
4K is about 15% and I think this is the top end of the range - I think anything more than 15% would be a mortal blow from qcom...
however, a few months from now, let's say 6, we may have phase 2 of the pruning exercise and do not be surprised if you see a thousand or two more leave the ranks