If you are an old timer, you might have made lot of money.. you should be thankful for a wonderful ride.. if you are newcomer, why complain? layoffs are increasing becoming common. you got through QC interview, you can get through most of other companies too. i am not old timer but i can see company made many people rich, why ppl are crying so much is beyond my understanding having been in few companies in down time, i think QC has its own issues (some major like performance review, lack of growth, politics etc) but overall its much nicer to its employees (in its good days at least) than many other companies.
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Anonymous127844 : In my conservative estimate, most QCOM old timers (employee number <10K) are sitting on 1-2 million at the minimum, on an average would guess closer to 2-3 million. Agree with the OP, they definitely have a lot to be grateful..
People are spoiled and used to having money being thrown at them. With things changing, they cant handle it. Time to give up the million dollar life style, you maggots.
OP: You really have an unrealistic view of people's finances in this country. You probably think all doctors and lawyers are rich, too, but forget that unlike H1Bs, they often have to pay off over $500,000 in student loans, plus building leases, employee salaries, and malpractice insurance--plus their own damn Obamacare! But let's just consider the older Qualcomm worker. Unless they bought up to the McMansions in Palo Alto or Carmel Valley, they probably bought long ago, and own their own houses free and clear. But they have kids. And like all parents they want their kids to go to university. And they don't want them to graduate with a sh*tload of debt. And since they are "rich," there won't be too much in the way of fianancial aid. So for 2 kids, average tuition of $40,000, min. living expenses $20,000 per year and financial aid package worth about $20,000, that's $80,000 per year. And let's assume they were good little investors, and put every spare dime they had in their IRAs and ESPs over the years. Unfortunately, there was that period between 2000, when "W" annnounced his future cabinet and the market promptly tanked, and took about 6 years to recover. Some people got hit really hard, and put their money into real estate--which of course promptly tanked in 2008, along with the stock market. So really, a lot of older people can't afford to retire right now, despite good saving habits. Then there are health problems. Once you hit 40, it's all maintenance. People are diagnosed with heart disease, diabetes, cancer, etc. But they keep on working because they have to. They can't afford to lose their medical benefits. I expect a brainless twit like SM, who has been handed a $51 MM gift at employees' expense to not understand these things. But now your head is on the chopping block. At least lay the blame where it rightfully belongs.
I met s guy yesterday who has been laid off 7 times. It's a way of life now.
I believe many are nervous because their immigration status depends on employment at Qualcomm and they will be deported once their employment ends. Others are just not done riding the gravy train.
Second that. I think most of the frustration and complaining as a result of people having been made to slave for the managers and feeling somewhat betrayed with this layoff news. Furthermore having seen the unfair and unjust, corrupt ways of the management deducing that they will be unjustly laid off when, in their rightful opinion, bad management should be the ones to go. And being human and lashing out in their own way behind this anonymous mask.
Well said!