Today I started preparing my resume and preparing myself for a move, as I think other than Sm, no one is safe. I am wondering if I should rent out my house or sell it. My house is in carmel Valley and my mortgage plus tax is 4.5k? No way I will find anyone to pay even 3.5k rent...leave alone the tax.
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This is OP. Thanks all for your valuable tips. My title is Principal Engineer. Can choose to be a Director, but that never motivated me. Salary - can't disclose - that's too personal. Hope you don't mind.
Hi OP, what is your title level, salary? Thanks.
@Anonymous123611, Even if their is no spinoff, QCT need to move its operation to low cost centers to compete with MTK/MTKSimilars just for cost reason alone, our leadership premium is eroded to bone and their no possibility in sight to regain most of that leadership premium for QCT,Not even if S820 turns out to be best chip,not even we keep winning iPhone socket....I hope some Chinese hackers pull out plan from SM/PJ ( and less that 25 other individuals who might have it) laptops and publish it online but I think Norm is doing decent job of defending our corporate networks specially at this time so it's highly unlikely to happen-:(
Anonymous123539 , not true for SD QCT, SD QCT share of cut will be much larger than 15%( I expect ~30-35% in first round) another 30-40 % till it it spin off ( but increased headcount in other low cost locations ) till sold to some one( in a year or so) ,meantime working condition for remaining will keep getting worse so I think OP is thinking in right direction. I am also not making decisions based on whether I will survive 1st round or not..no one with right mind should.
Would recommend selling it and moving to a place like Bay Area where you are not tied to one employer. Remote managing a rental is a pain even with property management. You will barely make 60% of the mortgage.
If you didn't save enough cash for 1 year worth of mortgage, tax, insurance when you bought your house then you bought too much house. Guessing you bought a 900k house and put 20% down. maxed it all out without planning for this? how about renting a couple of rooms in the house while you find another job to help cover expenses.
4.5K is insane.
How are you putting away any money for this kind of event? Jesus, how much did you make a year?
I bet your car isn't paid for but is a nice one.
Get out of that and get real.
benefit reductions would probably bring us inline with all other companies. no companies offer free healthcare any more. it's too expensive. maybe a handful in SV but that's it. pay reductions are highly unlikely. how many companies have you worked at where they reduced your pay? they would more than likely layoff somebody then reduce high performers salary. could reduce rsu and bonus, but not pay.
Those 85% will also get pay and benefits reductions. Best to GTFO of a sinking ship ASAP if you want to maximize your earnings while you're still young
Other than SM? I would say 85% of the people are safe. Odds are you will be ok unless you know your performance stinks, you are a one trick pony, you are pigeon holed, or cannot adapt to change. if you are one of the above, then yes, prepare my friend, prepare, and prepare yourself well. The end is neigh
SD is not a good renters market unless mortgage is less tha 2600$, otherwise better to sell before price drop. Oct to April is not a good time to sell. Sell as owner as realtor fee sucks
If it's Carmel Valley, you should find suckers to rent at 4.5k... I have lived in several places in the country and this suburb still doesn't make sense.. If you wait till school starts then you are hosed until next summer...
San diego is not a renters market, the economy doesn't have that many high paying jobs to support it. Finding rent to cover your mortgage will be tough. Selling will be wise.
Cut your losses. Most people will wait for a few weeks to see if they are on the list, after that it will be difficult to find buyers. If you bought few years ago, then you must make good profit? If not this layoff wave, then next few waves will take out many people.
Property value woule be affected by this lay off n impending rate hike.
By how much is anyone's guess. .
being a long distance land lord is not easy
Prices are high good time to sell