Thread regarding Qualcomm Inc. layoffs

Lots of crazy talk here. Nobody knows what is going to happen and very few actually have control over what may happen to them in any of the m&a scenarios so relax and enjoy the holidays. Let’s have a fresh start in January and do what we can to make QC the best it can be.

Octane is the new boss in town.

I had to look for a new job during a layoff before. What you never want to hear during a job interview is:

„Good morning. Oh, you are from company XYZ. You are the 12th candidate from XYZ we are interviewing this week.“

If you look for a job now, potential employers know that you WANT to leave Q. If you look for a job in the middle of a layoff, potential employers know that you HAVE TO leave Q.

Try to understand how this affects your chances in finding a new job, your chances in finding an interesting job and what kind of a position this puts you in during salary negotiations.

Also, you really think that being unemployed for two years while enjoying the benefits of your CIC package is going to look great on your resume? It looks like some of you here think that this is something to enjoy and not to worry about. No, on the contrary. Every week of non-employment decreases your chances on the job market, and once the Broadcom deal is through, the job market is going to be freakishly competitive!

Seriously, how naive are you people? You see Dollar signs and your brain switches off? If you want a career, if you want employment, if you want to be able to provide for your family in the future, then don‘t rely on a CIC severance package! Do everything you can to ensure an uninterrupted chain of gainful employment. Seriously, it shouldn‘t be necessary to explain this to anyone!

I would not stay for this CIC. If you find a job now, leave now. You don't know how long you'll be unemployed after you are terminated. If you are without a job for a long time, employers start doubting whether you are skilled. You could not get hired at all or get hired at a lower salary doing lesser work.

Guys don't worry

Spin off? What planet are you living on?

They will fight until hock offers $90

Is spin off also prohibited by this? not so clear.

Of course they are fighting the takeover, they will all lose their jobs day-1 Tan emperor takes all over

Resisting is futile

The only thing they are fighting for is who gets what Corp jet.

Op, you are a fool. Anyone who knows Q, it's founders, an senior execs, knows they are fighting this take over.

Agree with wsf....my post was to eug...who has it wrong...

Yes, but it will probably take a year to finalize a deal with regulatory approval. Then it might take 2 years to complete layoffs and/or transition of work overseas. So while we may or may not get a package it secures the next 2-3 years for a large number of employees....we may have to work for it, but what's wrong with that?

@QR64fdM-eug

You are so dumb. The CIC excludes executive packages. It is solely for low level engineers like you..ignorant son of a dog!

Read it before typing..

Also CIC is the best thing that could happen to all engineers and other employees -- excluding executives.

CIC covers 2 years .. plenty of time to go find your next job.. or vacation or.. break or studies.. or whatever..

no panic.. this is really good for employees.

Keep in mind that the CIC Severance doesn't extend "indefinitely" in time and it only applies to terminations which are directly related to Chance in Control.

Great parachute package for the current executives!

Hey low level engineer, sorry to tell you this cake is not for you!

Not sure it matters if it's a good deal...and it's a pretty good deal considering the situation.

Most CIC arrangements define change in control (CIC) to include the following categories:

1) Merger

2) Hostile Takeover (share acquisition)

3) Hostile Takeover (board takeover)

Interesting that all 3 applies to QCOM !!!

The primary purpose for CIC arrangements is to keep senior executives focused on pursuing all corporate transaction activity that is in the best interests of shareholders regardless of whether those transactions may result in their own job loss.