I just wanted to share this with all those who have been laid off as I was once in the same boat two years back and it could not have been better.
1) Going through "why me" phase:
Do not curse yourself, or doubt your talents. This helps no one. There is a lot of things that are played in the background , before they make a decision to RIF you. Most are unrelated to your talent and your contributions and how well you have performed. It depends on your team, how well your manager has fought for your team, what that team means for the company, and what they have to lose. We are nothing in front of the bulky investors make or break the company.
2) Going through "I have to pay for my mortgage , so I am just going to deal with it phase"
Let the layoff not be a deterrent to expressing your capabilities. The semiconductor industry is hot out there and there are several companies who need people. While you are applying for a job , be frank about what has happened. Layoffs are not a big deal these days. It is a part of the package. Nobody cares as long as you do well in the interview. So shrug off that doomed feeling and just start preparing for the interviews right away. There is not time to brood over stupid QCOM management who have not been able to get anything straight yet.
Overall it is always a good thing. You will probably just land up in a much better company and position and then looking back you will just laugh at what happened. Good luck with your interviews and screw QC. :-)