So they just paid $240,000,000, to expand the Texas facilities, for business they did not have. You have to spend money to make money, but the decisions made have to make sense. No one in upper management is paying the price for that poor decision. The bottom line has to look good, so let's get rid of some people. Then the people left will be forced to burn PTO. I want to see some executives go to the chopping block!
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They gained money acquiring the Farmers Branch (R & D for now) site, bought buildings cheap and kept 2 while profiting on the others. That site also has a high yield (99%) compared to the Richardson plant. I pretty much think the Maxim people they kept there have something to do with that since Apple wanted that site to keep making their product and Qorvo lost a contract because a company didn't feel the Richardson site was big enough. Get rid of some higher ups, the techs, engineers and operators are what keep the company going.
| have my own opinion about what got us in this position. First is that QORVO, a stupid name, is a niche semiconductor manufacture that thinks it is a conglomerate corporation. Second is that TriQuint was cash flush due to a second stock offering during the height of the dot-com craze. QORVO management said let's divide up this cash among ourselves and we will be rich. But the CFO said wait, you can't do that, it's embezzlement. So they said let's spend all that money on expanding the fabs. We will buy a who bay of tools that will look great, but only one will be running product. We will buy fabs that have failed twice and fail it again with the latest equipment. Then we will offer it all to Texas Instruments at a discount, and when they buy it we will walk away with our golden parachutes. And the CFO said, "That's legal".