Thread regarding McAfee layoffs

Silicon Valley Business Journal: McAfee cuts staff in San Jose (140), including 3 vice presidents

https://www.bizjournals.com/sanjose/news/2021/01/12/mcafee-cuts-nearly-140-staff-in-san-jose.html

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| 2469 views | | 6 replies (last )
Post ID: @OP+18TYcENb

6 replies (most recent on top)

"... at a fraction of the cost". There's a LOT of truth to that. Right now the dollar-to-rupee exchange rate puts a high paid software engineer position in India clock 1/4th the price of an average paid software engineer in the US. A mid-range experienced SDE in the US will cost you about $125000. In Bangalore McAfee will pay them an average of 1.2mil rupee. Just do the math. Current exchange rate of 73.16 rupee/usd means 1.2mill rupee is about... $16400. E.g, less than 14 cents on the dollar.

The big problem, however, is retention. McAfee pays for sh– in India, especially for younger new hires, and everyone knows it. So bright talent comes in, works for a year or two, cuts their teeth, and is offered +5x the salary by Google, or Microsoft, etc.; they're out the door. Who could blame them? The turnover of talent at McAfee India is a real problem. Getting good, long term talent is an exception; not the rule.

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Post ID: @4mkq+18TYcENb

Company hired very poor management from other security companies like Symantec (picking up their sc-aps). VPs don't walk the talk, two-faced, all about profit and not about employees (as humans). Employees' morale are at all time low and VPs are not showing their support but instead are making front line employees cry more.

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Post ID: @3uze+18TYcENb

They did cut several VPs and Dirs. Agreed very poor upper middle management. It's becoming an Indian-managed company.

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Post ID: @3qlc+18TYcENb

If the new normal is virtual workplace why pay an overpriced Silicon Valley employee, to work out their expensive Bay Area home, when you can ship that job back to China, India or some other place, at a fraction of the cost.

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Post ID: @1hed+18TYcENb

Its the only company in the world with so many VPs, instead of cuts in engineering and development they should just cut 80% of the VPs, would save much more money

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Post ID: @bfp+18TYcENb

not the right VP's from engineering though. still much useless fat that needs trimming.

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Post ID: @lfc+18TYcENb

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