Almost done deal at executive levels. Qcom is a history. Take pictures of all the buildings.
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I am traveling to Singapore. Met mr tan in TRAIN. o asked him he hock what’s up. He replied chilling la. Then I asked him where have you been. He said to the bank to withdraw money to buy qualcomm. So guys it will be an all cash deal. He will be distributing money outside qualcomm. People have to go on specified dates and sell their shares.
I bet you this thing doesn’t happen with Broadcom and hock-a-lougie will be kissing QC a$$ when 5g rols out, watch... anyhow, the fear mongering on here is coming mostly from bitter ex-employees and hock-s---ers. pay no mind. but if it happens, it happens. what’s the point in worrying about what you can’t control? unless you wanna be a bum after you get laid off, get off you a$$ and on to the next. make the most of severance and unemployment. don’t waste time. that’s life!
Final numbers is 100% layoff. HT will buy company and give away all IP for free to the world. He is obsessed with getting Time Man of the Year and Nobel Peace Prize.
Final numbers for layoff: 23,500 employees including temps and full time. These numbers came from HR & ER. I work for HR at QCT.
I’m prepared to go and I am prepared to stay. Layoff is beyond my control so why worry?
Based on revenue per employee comparison between Broadcom and Qualcomm, at least 20% Qualcomm headcount cut is reasonable. That is about 7000 people.
On top of it, there will be additional $0.7-1.3B cost reduction in overlapped business like WiFi meaning around 4000+ layoff in those business units even though that is one time thing.
The 2015 SRP aimed at 1.4B cost reduction and included ~1.4K layoff. 3B will be a bigger impact but not 12K layoff that you are trying to scare people with.
I hate that Qualcomm has got to this but this persistent fear mongering is pathetic.
$3 billions cost saving represents about 12k employees in high cost region like California.
It will be a hell of a lot more than 20 % layoff....as in double.Read the news hes going to cut spending by 3 billion doolars.
Revenue per employee of Broadcom is $843K while that of QCOM is $660K in 2017 meaning at least 20% layoff is almost guaranteed. Hock Tan is a finance geek. He doesn't give a sh-- about R&D. Instead of R&D he wanted to buy the technology and generate good revenue right away and boost the stock price to make shareholders happy.
Out of 33,800 total employees including full time and temp, 13,000 in San Diego. About 10,000 in India. The rest in everywhere else including US.
Huge hurricanes you saw past summer are coming to Qualcomm.
Justice is coming!!! Nepotism poisoned this company!!
I am very happy for those losers which never move a muscle and never learn anything during their long time stay at QC, good bye losers!!!
Hock said he will cut operating costs of Qualcomm by $3B. That's 12,000 people in high cost areas, roughly 40% of the work force, perhaps higher.
Fasten your seatbelts and get prepared for armageddon. This is going to be a total bloodbath. I'm out. Good luck to you all who are brave enough to stay behind past New Years.
no doubt a bloodbath is coming ! Everyone is at risk of losing their jobs! READ the news everyone -get educated and prepared because its going to happen.