Let 'er rip.
23 replies (most recent on top)
So the concept of a salary freeze is really interesting. That would effectively cause a sizable turnover in probably markets like the Bay Area where the jobs are still pretty competitively priced. But in places like San Diego, I think as pissed as people will be, most people will just put up with it. Because for them, what are their employment choices? Go work at Intel (where there is a hiring freeze at the moment).... Or go work for Broadcom errr.... I mean Avago? I also heard from colleagues at Broadcom that as part of the merger acquisition, they contract is written so that employee's salaries will be guaranteed for 1 year. Having that as part of an acquisition contract is extremely telling. It says that after 1 year, there probably are plans for salary reductions. So this sort of strategy wouldn't surprise me one bit if other semiconductor companies adopted it. Usually, when one does, so do the rest. Also, my colleagues also informed me that already in many semiconductor companies, they have already eliminated paid vacations and substituted paid vacations with what is called "unlimited vacation", which basically you ask your boss for time off. But you don't accrue any actual vacation. This sounds great...until you work for a boss that hates you or you're stuck on a project where you never have time to take vacation.
Economy isn't good. "Sharing" economy, maybe, and some cloud SaaS mumbo jumbo. Margin collapse and stagflation for everybody else. The only question is whether your wages keep up with the price of beef
Freezing salaries is a dumb strategy. Think about it. The skilled engineers will leave because they can. The unskilled engineer will be left behind. It's a good way to get rid of the talent. We are in a good economy, jobs are everywhere.
Yes, but to get the full benefits of that 5,000 "layoff," they need to do it without invoking WARN Act. After all, there's no sense in paying people full salaries for goofing off for 60 days after they get their notice, as well as a severance package. That means they will have to force fewer than 500 employees at each location to resign over any 60 month period. HR is already swamped setting up the fake PIPs for the chosen ones.
There is no video.
I agree with @Anonymous107413. Free soda is part of a comprehensive health and benefits plan and should not be the big butt of jokes.
At 410,
And if they do what do you do? They can always show you the direction of the door if you are not happy with the freeze. Hell, MR and CA may even reduce the salaries by 15% if they decide it to be the better option than downsizing. That way more than 5K would leave and it would be voluntary.
Sorry, me and my fellow free soda loving buds are not here to serve u. Now drink a free soda and be less grumpy, Mr.Grumpersons!
107411, I am tired of your "free soda" joke, please move on
Freeze salary, juice stock, drink resulting slushee. Better than free soda. Get back to work.
The most telling part was when Fatss (or is it FtArse?) said that the next 18 months will be tough. 18 months is a LONG effing time. These jackasses better not freeze salaries and bonuses. They are coming up with some 'measures' to improve gross margins. 5K might not be a figment of someone's imagination after all
So hold your blue balls
107357 - beg bitch, beg
Video is now posted and open to all employees.
Co-presidents....what a joke. Can I get someone to do half my job and still get full bloated pay?
107351 - You are my personal bitch. Now summarize it cause there aint to video dipshiiit.
107345, why would anyone summarize the meeting for you, we are not your private assistant. .... video of the meeting will be available for all qualcomm EMPLOYEES
Plan of action is to continue to do great work and bring value to the share holders. Get back to work.
107340 - I work for QC a$$ clown bung hole filler boy
I just found out that there will be "plan of action" in a few weeks.
107339 good try ... fishing for insider info ... Lame duck
Can someone from QCT enlighten or summarize the meeting for all other non-QCT people?
All is with QCT work harder and complain less you ingrates.
This is not your f*cking private circus you moron