A huge reduction in RSU grants and bonus, ($300million), some headcount reduction, and some consolidation from all the acquisitions. In short, it doesn't sound that bad.
Well, at least for now... Having two JANA folks on the Board however spells the end of a company driven by technology though.....It's a wall street company now.
15% in QCT
Resize and realign QCT spend
− ~15% reduction in full-time headcount, in line with the rest of the company
− Significantly reduce temporary workforce
− Streamline engineering organization
− Increase mix of resources in lower-cost regions and reduce locations
− Invest in most differentiated technology areas
Significant reduction in investments outside of QCT and QTL
Drive SG&A efficiencies on an ongoing basis