I heard through a very reliable source that QC is going to have another massive round of layoffs in the June timeframe. The number that I heard was 3000 in San Diego alone. The aim being to downsize the company. Has anyone else heard about this?
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Need to budget our financial engineering spend vs real engineering spend. It's the new normal
Why do you need 27500 employees to work on one trick pony crap dragon? There is room for more major layoffs.
@FVVEWbh-ggr, lol. At least OP has a plausible claim.
The company is back on track with newest technologies. Expect more hiring and good results.
Well, head count reduction didn't really happen yet so it is bound to happen sometime soon. SM's overall roll-up was ~27000 by the end of Aug, guess what it is now?? It is still 26500, so to honour the commitment to the investors re 15% reduction in work force by June 2016, they need to do something I guess.
OP I hear you're full of shit both on this blog and in the real world. I also hear you have a shitty job and are in a shitty financial situation.
I imagine the CFO is recommending to borrow another $5B to buyback stock, only to promptly watch competition and macro forces take it down to $36/sh .
Domestic cash reserves are dwindling. Qualcomm won't bring offshore money back to the US to support its domestic burn rate, so expect the work force to be adjusted so there's no threat of paying taxes on offshore money. Go through a few quarters' earnings reports and look at domestic cash. The numbers and trends are in front of everyone. Then imagine what the CFO is recommending.
It is not a question of if but a question of when.
It's true.
Layon in progress all head count growing.
According to this website, the next round of layoffs will be announced on 27th of January. Oh wait...