CEO / CFO ideas:
Buy large company
Increase dividends
Cut costs by laying off best and brightest employees
MESSAGE = our core business isn't growing like we promised a couple of years ago, and royalties have peaked.
9 replies (most recent on top)
Yeah you are right. Great leaders growing revenues and net income. Solving customer issues amicably. Stock rising. Lot's of hiring. NOPE. Just the opposite. Panic button.
Lay-off the best and brightest? You lost credibility when you wrote that. People who perform at lower than average levels often are delusional and believe they are the "best and brightest."
@vri - complacent? You must not work at Qualcomm. Or you won’t for long. If anything can be said for Q, there is a constant state of change, all the way down to offices.
Sep 2, 2015 - Qualcomm CEO says the company is restructuring to better position itself in emerging growth markets such as connected cars, the Internet of Things, wireless health, small cells and the data center, among others.
OP: Big chunk of best and brightest have already left Q. What's left is resting-and-vesting folks with big titles and little brains.
Too many highly paid useless managers, directors, senior staff, staff engineers. Engineers and senior engineers are doing most of the work.
@iqv Proud of what? to be complacent? Never expect resting and vesting can last long.
I don’t think investors are fooled by a layoff. The fact is we are top heavy, too many high titles and big salaries. There are existing redundant positions BEFORE bringing on NXP, and groups with 4 and 5 people doing the work of 1 or 2. WFH has become a joke amongst the uninspired. And a big account not only hasn’t paid us in over 6 months, they made incinderary allegations to regulatory authorities, followed by a lawsuit because they don’t want to honor the contract they signed.
It seems pretty clear we need to cut expenses. The problem is Qualcomm is a great place to work, and people don’t want to leave. If I’m on the list, I will be devastated because I take a lot of pride in my job and where I work.
I that is spot on. Execs are worried about prospects of current business and will do anything to fool investors in to holding on to their stock. Sad that the CEO and CFO's main focus is bailing water from a sinking ship.