Seriously, did anybody really think that Qualcomm would find a better way to attempt to fend off Broadcom other than layoffs?
And before somebody says that it's not certain $1 billion cost cuts will include layoffs, well, grow up. It's only a matter of determining how many will be laid off and when.
Basically, Qualcomm continues to be Qualcomm.
We don't have that many sales and marketing folks. We've already outsourced facilities last round. This is going to butcher the engineering meat.
Around 2000 positions will be eliminated. Mainly in Sales, Marketing and Product Management.
Still will be less layoffs than if Broadcom acquired Q. Hock tan is the master of layoffs
GD and SM were talking. One of them said, "I have an idea. Let's layoff 1,000 hardworking QCOM employees so we can keep our jobs for another year." The other one said, "great idea! We really don't care about anyone but ourselves."
Only reaction George Davis always has is to cut costs and conduct layoffs. While any elementary student would immediately think that, George tends to only focus on cutting 'other' functions except his own Finance which is very bloated and loaded with high level folks...wake up, see how well AMAT has done once George left?! QC's most valuable asset is there people and original culture...cheap jobs in India has been proven as not the current solution and about a decade late. TCO was proven that this does not work...they hire twice the people and facilities and infrastructure costs are expensive in India. Too bad Irwin and Paul don't control things anymore.
Historical valuations don't matter. It won't drop now that everyone knows q is worth at least what brcom was willing to cash out, regardless of transaction happening or not.
@1swv It won‘t drop? Huh? Then why was the stock price lower before the Broadcom offer, and why did it increase due to the Broadcom offer? Why shouldn‘t it fall back to right where it was before if the offer is rejected?
Yes, the market knows the value of Q stock. It‘s the price the stock was at before the offer was made. That‘s the value the market knew.
Seriously, some people here are not only clueless about the stock market. There are even some really special kinds of idiots who won‘t even understand it when it is explained to them in simple terms.
Nipe, it wont drop. Market now knows the value of q. Plus imagine, value must be even more otherwise brcom won't be offering if they don't get value out of it
Octane will prevail and clean up the mess Q has created
@1qln You don’t know a lot about how the stock market works. Perhaps you should consider other investment routes.
The Broadcom acquisition is priced into the current stock price already. So what you are voting for is simply whether you want to keep the current stock price or whether you are happy with the previous lower value. If people vote against the acquisition, the stock price will drop to where it was before.
So Hock Tan is essentially holding the shareholders hostage.
SM to DA, circa Fall 2017: "In early 2018, We're gonna film this 1980s after school special with super cheesy slides to show how we're gonna grow earnings by a zillion percent year over year. Some of us will rock kicka$$ new facial hair"
DA to SM: "Peace out, bruh"
We’re gonna pivot so hard to adjacent markets that Hock won’t notice until we’ve dunked over him
@1q1n
The stock is $68 because the market reads the acquisition possibility is real following Qualcomm’s response. This morning when ITC/Broadcom investigation news came out QCOM dropped, and then it went back after Broadcom dismissed it.
Drink your own coolaid but market has its own opinion.
Broadcom has twice the profit per employee than Qualcomm. Let that sink in.
Got my proxy vote form, $60 + $10 in stock doesn't exactly wow me when the stock is $68
And on the bright side, severance packages for this upcoming round of layoffs will be the best ever. All accounted for under "one time charges".
They will cut cost by minimizing R&D cost, eliminating many Sales and Admin positions. Expect these:
Major layoffs in R&D
Many VPs, Sr.Directors, Directors layoffs, consolidation of their roles.
Major layoffs in Sales and Marketing.
Will wait to see QCOM itself will initiate the process of mergerin the upcoming months.
Whether or not Qualcomm makes costs cutting, Octane will make sure to clean up that mess that Q has created.