Thread regarding Qualcomm Inc. layoffs

How come Don Rosenberg chief counsel earns the most of any corporate lawyer? Over 10 million$ ! Is he that valuable? How come his son in law earns 171K in salary and 61m in bonuses and an undisclosed amount of restricted stock, a class act of nepotism and corporate excess! Ridiculous! There should be a class action law suit regarding this greed!

The info came from Qualcomm's proxy statement. Funny Rosenberg's son in law Lucian added a doctor before his name between last proxy statement and the one before. Looks like he is trying to justify his pay being higher than other managers who get paid $50k to $75k less than him.

Interesting....One of the guys here.....has more than nine lives in failing business...is it because he lives with head HR

You have missed the biggest one, in fact the root of all that ills the company i.e Paul Jacobs, son of founder Irwin Jacobs who inherited a great company from his father and turned it to sh*t. His brother Jeff Jacobs was CMO and I dont remember anything of note he did. All this when there were much more qualified candidates in the ranks. Why do we point to these countless symptoms when the malady itself started at the top ?

You have no idea what you're talking about. As a manager myself, and having numerous friends at the same title, I can state that we all making roughly between $110- 125 K. So Rosenberg's son-in-law pulling in $160+K is way out of line.

=== I challenge ANYONE to show a "regular" manager in the company who makes anything close to this amount of compensation. This is ridiculous!! Most managers make somewhere in the range of $110- 130K. Then, the bonus of $61K is even more obscene, compared to typical bonuses inside the Q. ===

Actually you are wrong, managers at Qualcomm make an obscene amount of money, this is pretty typical, it's a telecom company, what did you expect? They keep the disgruntled and overworked engineers working in the mines with all their happy talk, meanwhile laughing all the way to the bank every time they go home at night.

This is the one that is most out of line, salary-wise.

Donald J. Rosenberg’s son-in-law, Dr. Lucian Iancovici, serves as a Manager, Ventures, Qualcomm Technologies, Inc. During fiscal 2015, Dr. Lucian Iancovici earned $171,822 in base salary and $61,710 in cash incentives and received restricted stock.

I challenge ANYONE to show a "regular" manager in the company who makes anything close to this amount of compensation. This is ridiculous!! Most managers make somewhere in the range of $110- 130K. Then, the bonus of $61K is even more obscene, compared to typical bonuses inside the Q.

There is a shareholder class action suit you can join.

With all the evidences of corrupt practices described in this site, is it going to be a well deserved class action at some point?

Great post...keep them coming! Truth be told!

It is clear their compensation is above and beyond what other people in the same position receive. How many H1B's working 80hr/wk in QCT received cash incentives ? It may not be illegal or corrupt, but it definitely lacks integrity and is just the type of bad behavior which creates an environment that results in having the most talented people leave for greener pastures. It also breeds resentment for those remaining who hope to one day jump ship and work for a companies that will eventually act as the catalysts toward Qualcomm's downfall.

how does being related prove you rode in on coattails? does that mean ANY employee referral is corrupt?

If you ride into your job on your family's coattails, you'd better be like Caesar's wife: above reproach. I don't know about the base salaries for some of the positions, but for a year when the company's products went to sh*t, the stock took a dive, and there were 2 major layoffs plus numerous PIPs and attrition, they received some serious change in cash bonuses, and RSUs--after SM explicitly said the company was getting away from that practice. So it's not unfair to inquire what they did to earn it, now, is it.

@FB9rdeG-utq, you have a specific example, or just assuming a genetic connection equals corruption/nepotism? Who in this list is unqualified, and why?

It's not necessarily about who manages them. It's also why they are chosen as hires over more qualified candidates, and why they even have that position, when people with seniority haven't been able to advance that far. Sorry, but having comparable genetics to a Board member or key employee does not automatically qualify you for a job.

Nobody directly reports to (or manages) their family member in this list. What's the problem? It's just a glimpse of full compensation for "regular" titles that's guaranteed accurate. Although RA has a low salary for his title, no?

grw: Same thing on a smaller scale. If upper management and key employees don't set an ethical example, the rest will think it's okay to follow. At the very least, in the case of SM and the Directors, it stinks of abuse of their authority within the corporation. If JANA-Barry's Board members wanted to raise the stock price, they would request the files of all of the nepotism hires, consider the cost of their retention compared to their contribution to the bottom line, and fire them immediately if they didn't pencil out. We could probably avoid the March lay-off if they did.

@FB9rdeG-tes, your broker sent this info to you, if you are a shareholder. PJ has to come swing the gavel at the shareholder meeting soon

How about indians who hire their family/village members?

These aren't the only ones, are they.

Can't blame H1Bs for nepotism, they just follow by example in this case

#nepotism

Where di you get this info

LMFAO!

Got_nepotism?

Integrity "Qualcomm way"