Do you think there may be small/medium/large NXP Semiconductors N.V. Layoffs in 2019?
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More layoffs this week. Every person who got layed off (including very talented and successful people) were over the age of 50. Older people cost more so they let them go. That's one way to control short term costs but it will hurt in the long term when biz picks up again.
A comp which is continuously chopping off lowperf focuses on only upgrades of legacy products. There cannot be innovation in such a toxic env. It's a kind of wait time before a restructuring. xFSL and Q times were like this and still ongoing. Rumors like S and that top guys mentioned in the calls that spinoffs could come is a sign of upcoming avalanche. Auto market in China which is main part of revenue is in stagnation. This year revenue goes down. To control costs cuts are fastest way. There isn't actually lowperf. It's an excuse to fire. Rest can do legacy anyway. Such env have lot of politics. Don't expect reasonable things. This music can take 2-3 years until SG&A (opex) goes from 10% to 7%. Good luck dude!
Don’t think that there will be low performing team which is the layer always created for the sake of sacking
Who are all getting targeted from several years
Yes NXP is laying off. Just got laid off yesterday.
May 14, 2019
With more than 18 years of experience, patents successfully applied for the company, and a record of innovation I’ve been laid-off from NXP in Chandler
Yes NXP is doing layoffs again this week in Austin. I know maintenance technicians with 20+ years got their walking papers.
Excerpt from latest earnings call:
.... what's your plan as far as how OpEx spend might trend directionally throughout the year? ...
... we see over the next 3 years R&D round about 16% and ultimately getting SG&A down to about 7%.
(Note: R&D costs are 16% now and they "want" to keep it there. (not "will", but "want"). SG&A is part of OpEx and these guys also will reduce costs related to employees max by 3% within 3 years, yearly 1%. As of last report, SG&A is 10%. )
It's important to say, (investor), we are definitely taking actions in the near-term to significantly control our cost. We're adjusting people levels relative to that. As (CFO) said, we're not really stopping any programs but we clearly are not replacing attrition and in some cases…
Performance improvement, so we work to actually use this to move low performers eventually out of the company to strengthen the organization. So all of that has the cost levels -- I think you've seen historically from us and I think it was a clear indication in Q3, Q4 and Q1 that we will manage our OpEx and we know how to do that.
(Note: "Near term" means within 2019 layoffs will get momentum.)
Any rumours for Europe?
NXP Chandler laid off....or "relocated" 12-16 Temp workers in JAN, and rumor is more NXP employee layoffs in FEB.
NXP Chandler has laid off 12-16 Temp workers in JAN. Rumor is more NXP employee layoffs coming in Feb.
There’s no one is laid off in NXP’s Taiwan branch. NXP guys can move your head count to Taiwan for survival
Still only support groups are touched in Bangalore. r&d may be in 2019
Which groups, which levels impacted in India ?
many engineers affected in Asia. Good Luck to all friends
Apart from explicit layoffs, the hiring was frozen pretty much across Europe in 2018 and will remain like that in 2019. And some sites had more than 10% turnover.
Any Europe site affected?
Its been continuous since they decided to become an Automotive company. All you need is a downtown in a few areas and the company is in bad shape. They will regret they sold standard products and shut down many of the other areas.
Layoffs happening in NXP India too. Continuously in each Quarter.
Some layoffs in Phoenix site have happened this week.
Nah! This time is different. During Qualcomedy, NXP used a lot of contractors to keep head count flat. They'll be the first to let go. BUT, 2019 is a totally diferent story. See y'all
Dont ask obvious Bro!!