Union to Qualcomm...
I've been reflecting as I sit here looking at two different colored ballots. Even though Qualcomm doesn't publish that nice total compensation comparison website anymore, I was able to go back and look at mine over the last five years. I found that I finally reached the total compensation level that I held four years ago. SRP reduced bonuses and stock plus depressed stock price meant my TC was depressed even though my salary increased significantly with high ratings and a promotion. While my TC was held back, my responsibilities and hours worked have climbed significantly leading to much lower overall job satisfaction. The $1B cost reduction recently announced means our chronically understaffed team will not get any relief. While not said anywhere yet, that cost reduction has to hit the fall merit cycle.
All that said, I just filled out WHITE. It is the lessor of two evils at this point. I'll have a job under either regime, but Broadcom would cut back the teams even more. I'd have even more work to do for the same or less pay. Our board has one thing completely right and that this bid is for the benefit of Broadcom stock holders, not Qualcomm stock holders or employees. With their bid only $10 in stock, we wouldn't get much of a taste of that success either and all the big gains would be seen before they issued the stock.
Yes, very ME focused. I know many highly and lowly qualified people will be let go under either regime. I'll probably see some good friends gone voluntarily or involuntarily. A few have already said they are hoping for a package.