The layoffs are actually going to happen and this one is going to be larger than 2015. The target is mainly positions with titles of Sr. Staff and higher. The simple fact is that the company is far too loaded with more Directors and Sr. Directors than there needs to be. Please be patient, it will happen as those salaries should work well to hit that Billion savings goal.
Is this wishful thinking or is there any truth behind it?
In my group, 1/4th of the senior directors are nuked. These were non-performers.
Most folks are happy to see these folks go as they were non-contributors.
There is enough fat at principal/director/sr. director levels that need to be pruned.
This will help people who perform and motivate other folks who are dependent on authority (title) instead of work.
QCOM will come out well when corrupt/non-performing parts are removed.
Yeah, right!
@eww lol. Example of fear monger.
Update: If you want real information about what's to come. Become familiar with QCOM management's directives and challenges for the next FY or two. If they fail, then we will begin to see big job losses. Until then, QCOM is in no required position to begin dumping expensive engineers.
@ksj What are you smoking? I need few puffs of that
Get out of ostrich mentality
Qualcomm is the worst performing semi stock in the market
There's really no truth behind anything on this forum. Sorry op. Most of the people here are just fear mongers.
The 1bil cost reduction wont be something outrageous like people in this forum like to exaggerate. It will lead to a few layoffs but it most likely wont warrant a WARN notice. It definitely wont lead to the 20-40% headcount reduction either. Qcom isnt that strapped for cash.
The only reason anyone would need to panic about their job is if NXP was egregiously blocked by China and we come out on a really, really low end for the licensing dispute with APPL and others. Causing shareholders to panic dump QCOM stock. Then we can come here and cry. Until then, nothing much is going to change in the short term.